What was the amount due from related parties for 1-800-GOT-JUNK? as of December 31, 2024?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
Years ended December 31, 2024 and 2023
- Related party balances and transactions: (a) Related party balances: Balances with related parties as at December 31 are as follows:
Due from related parties: O2E Brands Inc. $ 3,418,155 $ 1,832,287 1500647 Limited Partnership 25,352
WOW 1 DAY PAINTING LLC 9,442 11,439 1-800-GOT-JUNK? Commercial Services (Australia) Pty Ltd 8,725
Shack Shine Home Services LLC 7,149 158,906 0766143 BC Ltd. 2,197
Flywheel Accelerator USA Inc. 1,061 1,600 Shack Shine Home Services Inc.
WOW 1 DAY PAINTING Inc. 5,986
$ 3,473,487 $ 2,010,218 1-800-GOT-JUNK? LLC Notes to Consolidated Financial Statements (Amounts expressed in United States dollars, unless otherwise indicated)
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 amount due from related parties as of December 31, 2024, was $3,473,487. This figure represents the total amount that related entities owed to 1-800-GOT-JUNK? at the close of the fiscal year. 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., and WOW 1 DAY PAINTING Inc.
These related party balances arise from transactions and interactions between 1-800-GOT-JUNK? and its affiliated companies. Understanding these balances is important for assessing the overall financial health and inter-company relationships of 1-800-GOT-JUNK?. The amounts due from related parties are considered current assets on 1-800-GOT-JUNK?'s balance sheet, reflecting resources expected to be collected within one year.
Prospective franchisees should be aware of the nature of these related party transactions and how they might impact 1-800-GOT-JUNK?'s financial performance. While these transactions are common in franchise systems with multiple related entities, it is crucial to ensure that they are conducted at arm's length and do not create any conflicts of interest. Further due diligence into these related party transactions can provide a clearer picture of the financial stability and operational efficiency of 1-800-GOT-JUNK?.