Contract Liabilities:

9 Months Ended

Sep. 30, 2023

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 nine months of 2023 and 2022, respectively:

	September 30, 2023		September 24, 2022
Balance at beginning of period	$	8,618,100	$	8,508,500
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		1,957,300		1,538,100
Fees earned that were included in the balance at the beginning of the period		(1,341,100)		(1,373,400)
Balance at end of period	$	9,234,300	$	8,673,200

The following table illustrates future estimated revenue to be recognized for the remainder of 2023 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2023.

Contract Liabilities expected to be recognized in	Amount
2023	$	421,100
2024		1,624,000
2025		1,407,600
2026		1,203,200
2027		1,028,500
Thereafter		3,549,900
	$	9,234,300