What was the amount of long-term notes receivable from employees for Camp Margaritaville as of December 31, 2022?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
t procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Other Information
Management is responsible for the other information. The Other Financial Information on pages 26 and 27 is presented for purposes of additional analysis but does not
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the amount of long-term notes receivable from employees as of December 31, 2022, was $961,586. This indicates the amount of money owed to Camp Margaritaville by its employees through long-term notes.
For a prospective franchisee, this figure provides insight into the financial relationships between Camp Margaritaville and its employees. It suggests that the company has extended long-term credit to its employees, possibly as part of a compensation or benefits package. Understanding the terms and conditions of these notes, such as interest rates and repayment schedules, could be relevant for a franchisee in managing their own employee financial arrangements.
It's important to note that the long-term notes receivable from employees increased from $961,586 in 2022 to $1,010,782 in 2023. This increase could reflect changes in employee lending practices or an expansion of employee financial assistance programs within Camp Margaritaville. A potential franchisee should inquire about the nature of these notes and the criteria for employee eligibility to better understand the financial dynamics within the company.