What was the total value of Jersey Mikes' accounts payable and accrued expenses in 2023?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Accounts payable | $ 3,174,604 | $ 3,137,496 |
| Accrued expenses | 188,731 | - |
| Total accounts payable and accrued expenses | $ 3,363,335 | $ 3,137,496 |
Source: Item 23 — RECEIPTS (FDD pages 77–421)
What This Means (2025 FDD)
According to Jersey Mikes' 2025 Franchise Disclosure Document, the total value of accounts payable and accrued expenses for the company in 2023 was $3,137,496. This figure represents the combined short-term obligations Jersey Mikes had to its suppliers (accounts payable) and expenses that had been incurred but not yet paid (accrued expenses) as of the end of the 2023 fiscal year.
For a prospective franchisee, understanding the franchisor's accounts payable and accrued expenses can provide insight into the company's short-term financial health and its ability to manage its current liabilities. A significant increase in this figure from one year to the next could indicate potential cash flow issues or changes in payment practices. However, in this case, the FDD only provides the total value, and not the individual value of accrued expenses for 2023.
It's important to note that this figure is just one component of Jersey Mikes' overall financial picture. A franchisee should review the entire financial statement, including the balance sheet, income statement, and cash flow statement, to gain a comprehensive understanding of the company's financial condition. Additionally, comparing these figures to industry benchmarks and the financial performance of other franchise systems can provide valuable context.