What was the amount of long-term notes receivable from employees for Camp Margaritaville as of December 31, 2023?
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, conside
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the long-term notes receivable from employees as of December 31, 2023, was not specified. However, the short-term notes receivable from employees was $3,700 as of December 31, 2023.
This indicates that Camp Margaritaville had extended short-term loans to its employees, with a total value of $3,700 outstanding at the end of 2023. These notes are classified as short-term, meaning they are expected to be collected within a year.
As the FDD does not specify the amount of long-term notes receivable from employees, it is important for a prospective franchisee to ask Camp Margaritaville's management about their policies and practices regarding employee loans, including the terms, interest rates, and repayment schedules associated with such notes. Understanding the details of these financial arrangements can provide a clearer picture of the company's financial health and employee relations.