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Contract Liabilities:

9 Months Ended

Sep. 27, 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 nine months of 2025 and 2024, respectively:


	September 27, 2025		September 28, 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		1,567,200		1,659,700
Fees earned that were included in the balance at the beginning of the period		(1,235,700)		(1,284,600)
Balance at end of period	$	10,018,800	$	9,698,700

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 September 27, 2025.


Contract Liabilities expected to be recognized in	Amount
2025	$	414,800
2026		1,616,400
2027		1,441,600
2028		1,272,200
2029		1,123,900
Thereafter		4,149,900
	$	10,018,800