What was the net income for Camp Margaritaville for the year ended December 31, 2023?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
| Year Ended December 31 | ||
|---|---|---|
| 2023 | 2022 | |
| Revenues | ||
| Restaurant and retail merchandise sales | $ 6,784,532 | $ 6,487,545 |
| Restaurant royalties | 10,166,895 | 9,033,781 |
| Resort royalties | 29,097,964 | 26,963,473 |
| Residential and timeshare royalties | 35,130,754 | 21,691,627 |
| Consumer products royalties | 4,199,315 | 4,705,602 |
| Other revenue | 7,108,803 | 5,978,600 |
| Total revenues | 92,488,263 | 74,860,628 |
| Operating expenses | ||
| Cost of restaurant and retail merchandise sales | 1,814,546 | 1,740,415 |
| Selling, general, and administrative | 65,463,612 | 47,750,487 |
| Depreciation | 1,433,243 | 1,420,259 |
| Total operating expenses | 68,711,401 | 50,911,161 |
| Income from operations | 23,776,862 | 23,949,467 |
| Other income (expenses) | ||
| Net (loss) gain from investments in unconsolidated entities | ( 2,000,000) | 375,000 |
| Net loss on sale of venues | ( 1,902,027) | ( 3,171,426) |
| Net gain on insurance proceeds | 20,088,815 | – |
| Net loss on extinguishment of debt | – | ( 4,336,839) |
| Interest income | 808,337 | 208,929 |
| Interest expense | ( 9,421,558) | |
| ( 12,330,510) | ||
| Net income before income taxes | 28,441,477 | 7,603,573 |
| Income taxes | 656,806 | 359,741 |
| Net income from continuing operations | $ 27,784,671 | $ 7,243,832 |
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the net income from continuing operations for the year ended December 31, 2023, was $27,784,671. This figure represents the company's profit after all operating expenses, other income and expenses, and income taxes have been accounted for.
Specifically, this net income was calculated by starting with total revenues of $92,488,263 and subtracting total operating expenses of $68,711,401, resulting in an income from operations of $23,776,862. Other income and expenses, including a net gain on insurance proceeds of $20,088,815 and interest expense of $12,330,510, were then factored in. After accounting for income taxes of $656,806, the final net income from continuing operations was determined to be $27,784,671.
For a prospective franchisee, this net income figure provides insight into the overall financial health and profitability of Camp Margaritaville. It's important to consider this figure in the context of the company's revenues, expenses, and other financial activities to gain a comprehensive understanding of its financial performance. Additionally, franchisees should compare this figure to previous years and industry benchmarks to assess the company's growth and stability.