What was the net amount of notes receivable (net of current maturities) for Jersey Mikes in 2024?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
stantially all of the assets of and guaranteed by the Master Issuer's direct Parent and subsidiaries (collectively, with the Master Issuer).
5. NOTES RECEIVABLE
Notes receivable consist of the following at December 31, 2024 and 2023:
| | 2024 | 2023 | |---------------------------------
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mikes's 2025 Franchise Disclosure Document, the net amount of notes receivable (net of current maturities) was $6,261,023 in 2024. This figure represents the value of notes receivable after subtracting the current portion, which is the amount due within one year.
Notes receivable are amounts owed to Jersey Mikes by other parties, often franchisees, typically arising from financing arrangements or store sales. The notes receivable balance relates to notes from unaffiliated companies with interest rates ranging from 3% to 10% per annum, maturing through October 2037, secured by the assets of the individual franchisee.
The difference between the total notes receivable ($7,413,563) and the net amount ($6,261,023) is the current portion ($1,152,540), representing the amount due within the next year. Monitoring these figures can provide insight into the financial health of Jersey Mikes's franchisees and the overall stability of its revenue streams.