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Contract Liabilities:

9 Months Ended

Sep. 25, 2021

3. Contract Liabilities:

The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees. The table below presents the activity of the current and noncurrent deferred franchise revenue during the first nine months of 2021 and 2020, respectively:


	September 25, 2021		September 26, 2020
Balance at beginning of period	$	8,708,300	$	9,575,500
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		1,110,600		656,700
Fees earned that were included in the balance at the beginning of the period		(1,325,400)		(1,287,000)
Balance at end of period	$	8,493,500	$	8,945,200

The following table illustrates future estimated revenue to be recognized for the remainder of 2021 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 25, 2021.


Contract Liabilities expected to be recognized in	Amount
2021	$	418,400
2022		1,605,500
2023		1,434,200
2024		1,236,500
2025		1,020,100
Thereafter		2,778,800
	$	8,493,500