What was the total amount of additional advances made by Brightstar Care under the notes during 2024?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| Affiliated Company | Notes Receivable (Payable) |
|---|---|
| 24-7 BrightStar Healthcare, LLC | $ (579,666) |
| 24-7 BrightStar Operations, LLC | (1,079,721) |
| BrightStar Senior Living Franchising, LLC | 3,809,963 |
| BrightStar CRDM, LLC | 795,478 |
| BrightStar Senior Living Development of Mason, LLC | 44,770 |
| BrightStar Arizona Operations, LLC | 696,970 |
| BrightStar FL/AL Operations, LLC | 3,059,074 |
| BrightStar Spartanburg-Greenville Operations, LLC | 360,135 |
| BrightStar Tennessee Operations, LLC | 54,901 |
| BrightStar Wisconsin Operations, LLC | 125,725 |
| Total | $ 7,287,629 |
During 2024 and 2023, the Company made additional advances of $16,053,520 and $16,272,451 under the notes, respectively. During 2024 an
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 117)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the company made additional advances of $16,053,520 under the notes during 2024. These advances are part of the financial activities Brightstar Care engages in, which also include recording non-cash distributions as reductions of these notes.
In 2024, Brightstar Care recorded non-cash distributions of $12,809,284 as a reduction of these notes. These distributions represent a decrease in the amount of outstanding notes, effectively offsetting a portion of the advances made during the year.
For a prospective franchisee, this indicates that Brightstar Care actively manages its financial obligations and assets through advances and distributions. Understanding the context and purpose of these transactions would be crucial for assessing the financial health and stability of the franchisor. It would be prudent for a potential franchisee to seek clarification from Brightstar Care regarding the nature of these notes, the reasons for the advances, and the implications of the non-cash distributions on the overall financial performance of the company.