What was the non-current deferred expense for My Salon Suite as of December 31, 2022?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
tal | $ 11,980,171 | $ 13,451,178 | | deferred | | | | revenue | | |
Notes to Consolidated Financial Statements
| Deferred Expense: Current deferred expense (included in prepaid expenses) Non-current deferred expense (included in other assets) | $ 648,795 2,920,914 | $ 973,726 2,255,600 |
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Source: Item 6 — Other Intangibles and Goodwill (FDD pages 274–314)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the non-current deferred expense as of December 31, 2022, was $2,255,600. This deferred expense is included in other assets on the company's balance sheet. Deferred expenses are costs that have been paid for but not yet consumed or used, and they are recognized as expenses over time as they are utilized.
For a prospective My Salon Suite franchisee, understanding deferred expenses is important for assessing the company's financial health. Non-current deferred expenses represent costs that will benefit the company over a longer period, typically more than one year. These expenses could include items like prepaid insurance, long-term service contracts, or software licenses.
The total deferred expense for My Salon Suite as of December 31, 2022, was $3,229,326, which includes both current and non-current portions. The current deferred expense, included in prepaid expenses, was $973,726. Monitoring these figures can provide insights into how My Salon Suite manages its financial obligations and investments, which can be a useful factor for franchisees to consider.