What was the total amount of Beggars Pizza's liabilities in 2022?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
elated Party Transactions**
The Company has a management fee agreement with Begcom, LLC, a related party through common ownership. The agreement expires on December 31, 2028. Management fees totaled $579,820 and $666,106 for the years ended December 31, 2023 and 2022, respectiv
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Beggars Pizza's 2025 Franchise Disclosure Document, the exact total liabilities for Beggars Pizza in 2022 is not explicitly stated. However, the FDD does provide some information regarding liabilities.
Specifically, the document mentions that management fees due to Begcom, LLC, a related party, as of December 31, 2022, totaled $9,166. These fees are included in accounts payable on the balance sheet, indicating a liability. Additionally, the document discusses royalty receivables and an allowance for doubtful accounts, which indirectly relates to the company's financial health and potential liabilities.
To determine the total liabilities for 2022, a prospective franchisee should carefully review the complete audited financial statements included as Exhibit A in the FDD. This will provide a comprehensive view of all liabilities, including accounts payable, accrued expenses, and any other debts or obligations Beggars Pizza had at the end of 2022. It is also advisable to consult with a financial advisor to fully understand the implications of these liabilities.