Through what month and year do Gold Star's operating leases expire?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company has signed twenty-four operating leases for which right of use assets were recorded on the consolidated balance sheets of the Company. As of December 31, 2024, 2023, and 2022, six leases are for buildings, nine leases are for equipment and furniture, and nine leases are for land. These leases expire on various dates through September 2048. In addition, the Company also has various operating leases that are month-to-month or expire in twelve months or less and are not included on the consolidated balance sheets as of December 31, 2024, 2023, and 2022. These leases are subject to certain renewal and/or termination options, all of which were not included in the lease liabilities due to the options not being reasonably certain to be exercised.
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, the company has signed twenty-four operating leases. These leases consist of six leases for buildings, nine for equipment and furniture, and nine for land. These leases expire on various dates through September 2048.
In addition to the twenty-four operating leases, Gold Star also has various operating leases that are month-to-month or expire in twelve months or less. These short-term leases are not included on the consolidated balance sheets as of December 31, 2024, 2023, and 2022. The company's leases are subject to certain renewal and/or termination options, none of which were included in the lease liabilities due to the options not being reasonably certain to be exercised.
For a prospective franchisee, this means that Gold Star's lease obligations extend far into the future, with some expiring as late as September 2048. Additionally, franchisees should be aware that the company also utilizes short-term leases, and the terms of these leases are subject to change.