How many vested shares of Camp Margaritaville were outstanding as of December 31, 2024?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
Margaritaville Holdings LLC (the Company) was formed on September 5, 1997, under the laws of the state of Delaware. Affairs of the Company are governed by its Operating Agreement (the Operating Agreement). The Company has issued 10,000 total interests designated as "Class A Interests" and 538 interests designated as "Class B Interests," and is authorized to issue up to 1,860 total interests designated as "Class C Interests." The Company has a Governing Board that is composed of appointees from the three largest A interest holders. Class B and C Interests are nonvoting. No Member shall be liable for the debts or any other obligations or liabilities of the Company solely by reason of being a Member. The Company shall be indefinite in duration, subject to the provisions for termination in the Operating Agreement.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, Margaritaville Holdings LLC had specific interests issued as of December 31, 2024. The company had 10,000 total interests designated as "Class A Interests" and 538 interests designated as "Class B Interests".
Additionally, the company was authorized to issue up to 1,860 total interests designated as "Class C Interests." The FDD specifies that Class B and Class C Interests are nonvoting, meaning that holders of these interests do not have a say in the company's governance. The company's Governing Board consists of appointees from the three largest Class A interest holders.
For a prospective Camp Margaritaville franchisee, understanding the ownership structure of the parent company, Margaritaville Holdings LLC, is crucial. While franchisees will not directly hold these interests, the financial stability and governance of the parent company can impact the franchise system. It is important to note that the financial statements included in the FDD are unaudited, so prospective franchisees should consider this when evaluating the financial health of the company.