What was the amount of payables due from Basecamp Fitness to related parties at the end of 2023?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
s comprehensive income for the years ended December 31, 2024, 2023 and 2022 consists of net income and currency translation adjustments.
Subsequent Events
Subsequen
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, at the end of 2023, the company had $139,000 in payables due to related parties. These payables are related to entities with common ownership.
This means that Basecamp Fitness owed $139,000 to other businesses or individuals with shared ownership at the close of 2023. These payables are classified as "due on demand," indicating that the related parties could request immediate payment of the outstanding amount.
For a prospective franchisee, this information provides insight into Basecamp Fitness's financial relationships with affiliated entities. It's important to understand the nature of these related-party transactions and how they might impact the financial stability and operations of the franchise system. While the amount is specified, further investigation into the specifics of these transactions would be prudent to assess any potential risks or benefits for franchisees.