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Note 15 - Notes Receivable

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 15 - Notes Receivable

Several franchisees have borrowed funds from us primarily to finance the initial purchase price of office assets, including intangible assets. Notes receivable, net of allowance for credit losses, were approximately $6.1 million and $6.7 million as of  June 30, 2026 and December 31, 2025, respectively. The notes generally bear interest at fixed rates ranging from 6.0% to 10.0%. Notes receivable are generally secured by the assets of each office and the ownership interests in the franchise. Interest income on notes receivable is reported as "Interest income" in our Consolidated Statements of Income. Interest income was approximately $118 thousand and $129 thousand during the three months ended  June 30, 2026 and June 30, 2025, respectively, and approximately $218 thousand and $262 thousand during the six months ended  June 30, 2026 and June 30, 2025, respectively.

We estimate the allowance for credit losses for franchisees separately from the allowance for credit losses from non-franchisees because of the level of detailed sales information available to us with respect to our franchisees. Based on our review of available collateral, historical loss information, current conditions, and reasonable and supportable forecasts, we maintained an allowance for credit losses of approximately $736 thousand and $1.2 million as of June 30, 2026 and  December 31, 2025, respectively. During the three months ended June 30, 2026, we wrote off approximately $640 thousand of notes receivable against the related allowance for credit losses after determining the amounts were uncollectible.

The following table summarizes our notes receivable from franchisees:

(in thousands)			June 30, 2026				December 31, 2025
Notes receivable		$	6,885			$	7,898
Allowance for credit losses			(736	)			(1,226	)
Notes receivable, net		$	6,149			$	6,672

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- References

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- Definition

The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/310-10/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

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