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Contract Liabilities:

12 Months Ended

Dec. 28, 2024

9. 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 fiscal years 2024 and 2023, respectively:


	December 28, 2024		December 30, 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		2,046,900		2,470,600
Fees earned that were included in the balance at the beginning of the period		(1,683,200)		(1,765,100)
Balance at end of period	$	9,687,300	$	9,323,600

The following table illustrates future estimated revenue to be recognized for the next five fiscal years and fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 28, 2024:


Contract Liabilities expected to be recognized in	Amount
2025	$	1,659,700
2026		1,455,300
2027		1,280,600
2028		1,111,200
2029		962,800
Thereafter		3,217,700
	$	9,687,300

We have applied the optional exemption, as provided for under ASC Topic 606, Revenue from Contracts with Customers, which allows us to not disclose the transaction price allocated to unsatisfied performance obligations when the transaction price is a sales-based royalty.