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Contract Liabilities:

6 Months Ended

Jun. 28, 2025

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 six months of 2025 and 2024, respectively:


	June 28, 2025		June 29, 2024
Balance at beginning of period	$	9,687,300	$	9,323,600
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		1,078,200		1,036,900
Fees earned that were included in the balance at the beginning of the period		(762,500)		(823,700)
Balance at end of period	$	10,003,000	$	9,536,800

The following table illustrates future estimated revenue to be recognized for the remainder of 2025 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 28, 2025.


Contract Liabilities expected to be recognized in	Amount
2025	$	798,800
2026		1,570,600
2027		1,395,800
2028		1,226,400
2029		1,078,100
Thereafter		3,933,300
	$	10,003,000