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Revenue Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Contract with Customer, Asset and Liability | Changes in the Company's contract liability for deferred franchise and regional development fees during the nine months ended September 30, 2022 were as follows:
| Deferred Revenue short and long-term
Balance at December 31, 2021 | $ | 18,650,813 |
Revenue recognized that was included in the contract liability at the beginning of the year | (2,397,451) |
Net increase during the nine months ended September 30, 2022 | 2,325,811 |
Balance at September 30, 2022 | $ | 18,579,173 |
The Company's deferred franchise and development costs represent capitalized sales commissions. Changes during the nine months ended September 30, 2022 were as follows:
| Deferred Franchise and Development Costs short and long-term
Balance at December 31, 2021 | $ | 6,500,007 |
Cost of revenue recognized that was included in the contract asset at the beginning of the year | (777,114) |
Net increase during the nine months ended September 30, 2022 | 931,334 |
Balance at September 30, 2022 | $ | 6,654,227 |
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of September 30, 2022:
Contract liabilities expected to be recognized in | Amount
2022 (remainder) | $ | 779,185 |
2023 | 2,904,946 |
2024 | 2,657,763 |
2025 | 2,460,418 |
2026 | 2,359,896 |
Thereafter | 7,416,965 |
Total | $ | 18,579,173 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 + Details
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