What was the amount of accounts payable and accrued expenses for Camp Margaritaville as of December 31, 2023?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
| 4,594,556 | 4,199,315 | | | | Other revenue | 15,010,443 | 7,108,803 | | | | Total revenues | 104,634,176 | 92,488,263 | | | | | | | | | | Operating expenses | | | | | | Cost of restaurant and retail merchandise sales | 1,710,201 | 1,814,546 | | | | Selling, general, and administrative | 68,220,301 | 65,463,612 | | | | Depreciation | 1,447,387 | 1,433,243 | | | | Total operating expenses | 71,377,889 | 68,711,401 | | | | | | | | | | Income from operations | 33,256,287 | 23,776,862 | | | | Other income (expenses) | | | | | | Net loss from investments in unconsolidated entities | – | (2,000,000) | | | | Net loss on sale of venues | – | (1,902,027) | | | | Net gain on insurance proceeds | – | 20,088,815 | | | | Interest income | 837,525 | 808,337 | | | | Interest expense | (13,423,323) | (12,330,510) | | | | Net income before income taxes | 20,670,489 | 28,441,477 | | | | Income taxes | 779,144 | 656,806 | | | | Net income from continuing operations | $ 19,891,345 | $ 27,784,671 | | | See accompanying notes.
Consolidated Statements of Changes in Partners Deficit
| Balance at December 31, 2022 | $ (108,194,511 ) |
|---|---|
| Contributions | – |
| Redemptions/distributions paid | (32,078,955) |
| Equity issuance transaction costs | – |
| Class B and C interest | 11,474,320 |
| Net income for the year ended December 31, 2023 | 27,784,671 |
| Balance at December 31, 2023 | (101,014,475) |
| Contributions | – |
| Redemptions/distributions paid | (35,630,167) |
| Equity issuance transaction costs | – |
| Class B and C interest | 3,308,993 |
| Net income for the year ended December 31, 2024 | 19,891,345 |
| Balance at December 31, 2024 | $ (113,444,304) |
See accompanying notes.
Consolidated Statements of Cash Flows
| Year Ended December 31 2023 2024 | ||||
|---|---|---|---|---|
| Operating activities | ||||
| Net income | $ | 19,891,345 | $ | 27,784,671 |
| Adjustments to reconcile net income to net cash provided by | ||||
| operating activities: | ||||
| Depreciation | 1,447,387 | 1,433,243 | ||
| Other noncash operating expenses | 763,317 | – |
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the accounts payable and accrued expenses as of December 31, 2023, was $1,177,806.
Accounts payable and accrued expenses represent short-term liabilities that Camp Margaritaville owes to its suppliers, vendors, and other creditors. These are typically obligations that need to be settled within a year. For a prospective franchisee, this figure provides insight into the company's short-term financial obligations and its ability to manage its current liabilities.
A higher accounts payable and accrued expenses balance could indicate that Camp Margaritaville is effectively managing its cash flow by delaying payments to suppliers, or it could suggest potential liquidity issues if the company struggles to meet its short-term obligations. Conversely, a lower balance might indicate prompt payment practices or a more conservative approach to managing liabilities. Franchisees should consider this figure in conjunction with other financial metrics to assess the overall financial health and stability of Camp Margaritaville.