Contract Liabilities:

6 Months Ended

Jun. 25, 2022

Contract Liabilities:

Contract Liabilities:

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 2022 and 2021, respectively:

	June 25, 2022		June 26, 2021
Balance at beginning of period	$	8,508,500	$	8,708,300
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		937,900		755,400
Fees earned that were included in the balance at the beginning of the period		(966,100)		(875,700)
Balance at end of period	$	8,480,300	$	8,588,000

The following table illustrates future estimated revenue to be recognized for the remainder of 2022 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 25, 2022.

Contract Liabilities expected to be recognized in	Amount
2022	$	804,700
2023		1,546,500
2024		1,348,800
2025		1,132,400
2026		928,000
Thereafter		2,719,900
	$	8,480,300