Intangible Assets:

3 Months Ended

Mar. 30, 2024

Intangible Assets

Intangible Assets

6. Intangible Assets

Intangible assets consist of reacquired franchise rights. The Company amortizes the fair value of the reacquired franchise rights over the contract term of the franchise. The Company recognized $88,500 and $88,500 of amortization expense for the three months ended March 30, 2024 and April 1, 2023, respectively.

The following table illustrates future amortization to be expensed for the remainder of 2024 and full fiscal years thereafter related to reacquired franchise rights as of March 30, 2024.

Amortization expected to be expensed in	Amount
2024	$	265,500
2025		354,000
2026		354,000
2027		354,000
2028		354,000
Thereafter		1,224,300
	$	2,905,800