Contract Liabilities:

9 Months Ended

Sep. 26, 2020

Contract Liabilities:

Contract Liabilities:

4. 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 2020 and 2019, respectively:

	September 26, 2020		September 28, 2019
Balance at beginning of period	$	9,575,500	$	10,177,300
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		656,700		979,700
Fees earned that were included in the balance at the beginning of the period		(1,287,000)		(1,394,200)
Balance at end of period	$	8,945,200	$	9,762,800

The following table illustrates future estimated revenue to be recognized for the remainder of 2020 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 26, 2020.

Contract Liabilities expected to be recognized in	Amount
2020	$	425,500
2021		1,642,800
2022		1,497,800
2023		1,326,600
2024		1,128,800
Thereafter		2,923,700
	$	8,945,200