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Contract Liabilities:

3 Months Ended

Mar. 30, 2024

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 three months of 2024 and 2023, respectively:


	March 30, 2024		April 1, 2023
Balance at beginning of period	$	9,323,600	$	8,618,100
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		481,000		756,400
Fees earned that were included in the balance at the beginning of the period		(402,900)		(458,700)
Balance at end of period	$	9,401,700	$	8,915,800

The following table illustrates future estimated revenue to be recognized for the remainder of 2024 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 30, 2024.


Contract Liabilities expected to be recognized in	Amount
2024	$	1,187,300
2025		1,497,700
2026		1,293,300
2027		1,118,600
2028		949,200
Thereafter		3,355,600
	$	9,401,700