What was the amount of due from related parties for 1-800-GOT-JUNK? as of May 31, 2025?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
Balances with related parties as at May 31 are as follows:
May 31 December 31
Due from related parties:
O2E Brands Inc. $ 4,746,725 $ 3,418,155 1500647 Limited Partnership 41,326 25,352 WOW 1 DAY PAINTING LLC
9,442 1-800-GOT-JUNK? Commercial Services (Australia) Pty Ltd 9,405 8,725 Shack Shine Home Services LLC 1,277 7,149 0766143 BC Ltd.
2,197 Flywheel Accelerator USA Inc.
1,061 Shack Shine Home Services Inc. 2,801 WOW 1 DAY PAINTING Inc. 9,451 1-800-GOT-JUNK? (Australia) Pty Ltd 3,028
$ 4,814,013 $ 3,473,487
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the total amount due from related parties as of May 31, 2025, was $4,814,013. This figure represents the aggregate of balances owed to 1-800-GOT-JUNK? from various affiliated entities. These related parties include O2E Brands Inc., 1500647 Limited Partnership, WOW 1 DAY PAINTING LLC, 1-800-GOT-JUNK? Commercial Services (Australia) Pty Ltd, Shack Shine Home Services LLC, 0766143 BC Ltd., Flywheel Accelerator USA Inc., Shack Shine Home Services Inc., WOW 1 DAY PAINTING Inc., and 1-800-GOT-JUNK? (Australia) Pty Ltd.
Specifically, the amounts due from these related parties are itemized as follows: O2E Brands Inc. owes $4,746,725; 1500647 Limited Partnership owes $41,326; 1-800-GOT-JUNK? Commercial Services (Australia) Pty Ltd owes $9,405; Shack Shine Home Services LLC owes $1,277; Shack Shine Home Services Inc. owes $2,801; WOW 1 DAY PAINTING Inc. owes $9,451; and 1-800-GOT-JUNK? (Australia) Pty Ltd owes $3,028. There are no outstanding amounts due from WOW 1 DAY PAINTING LLC, 0766143 BC Ltd., and Flywheel Accelerator USA Inc.
For a prospective franchisee, understanding these related-party transactions is crucial. It provides insight into the financial interactions between 1-800-GOT-JUNK? and its affiliated companies. These balances can fluctuate, as demonstrated by the comparative figures from December 31, 2024, which are also provided in the FDD. The FDD indicates that these balances arise from the normal course of operations and are subject to common control, meaning they are with companies under similar ownership.
It is important to note that these related party balances are distinct from the amounts "due to related parties," which represent liabilities of 1-800-GOT-JUNK? to its affiliates. Reviewing both "due from" and "due to" balances offers a more comprehensive view of the company's financial relationships with its related entities. A potential franchisee should investigate the nature of these transactions and their potential impact on the financial stability and operations of 1-800-GOT-JUNK?.