What was the total amount of accounts payable and accrued expenses for Jersey Mikes in 2024?

According to Jersey Mike's 2025 Franchise Disclosure Document, the total accounts payable and accrued expenses for the company in 2024 was $3,363,335. This figure represents the sum of accounts payable, which amounted to $3,174,604, and accrued expenses, which were $188,731.

Accounts payable are short-term debts that Jersey Mike's owes to its suppliers and vendors for goods and services received but not yet paid for. Accrued expenses, on the other hand, represent expenses that have been incurred but not yet paid, such as salaries, utilities, or interest. These liabilities are a normal part of doing business, reflecting the time lag between receiving goods or services and paying for them.

In 2023, the total accounts payable and accrued expenses were $3,137,496, with accounts payable at $3,137,496 and no listed accrued expenses. The increase in total accounts payable and accrued expenses from 2023 to 2024 could be due to a variety of factors, such as increased business activity, changes in payment terms with suppliers, or a buildup of unpaid expenses. A prospective franchisee should consider these figures in the context of Jersey Mike's overall financial health and trends.