What was the reported amount of notes payable to related parties for Camp Margaritaville?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
Additionally, a portion of the note was funded by related-party entities. See Note 7 for further details on notes payable.
Notes to Consolidated Financial Statements (continued)
9. Gift Card Program
In 2013, the Company implemented a national gift card program applicable to all Margaritaville Cafes, Landshark Bar and Grill, retail stores, and e-commerce sales through Margaritaville.com. Gift cards can be purchased and redeemed online, as well as at most US Margaritaville locations. The Company recognizes breakage when redemption is remote. The Company did not recognize gift card breakage for the years ended December 31, 2023 and 2022.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, a portion of the note was funded by related-party entities. Further details on notes payable can be found in Note 7. However, the excerpt does not specify the exact amount of notes payable to related parties.
While the document mentions related-party transactions consisting of expenses and expense reimbursements to and from shareholders, it only indicates that these balances are reflected in the accounts payable due to and from related parties on the consolidated balance sheets. It does not provide a specific monetary value for these notes.
A prospective franchisee should inquire with Camp Margaritaville about the specific amounts of notes payable to related parties to gain a clearer understanding of the company's financial obligations and related-party transactions.