What was the balance due from the Member to Chatime at December 31, 2024?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
ified as noncurrent liabilities. There were no amounts due to affiliates at December 31, 2023.
Due to/from member
In the ordinary course of business, the Company periodically advances funds to and receives funds from the Member of the Company. No interest is charged on these advances. Advances to and from the Member are noninterest bearing and have no specific date for repayment. The balance due from Member amounted to $20,108 and $300,000 at December 31, 2024 and 2023, respectively. Management expects these balances to be settled within the next year. The balance due to Member amounted to $60,015 and $- at De
Source: Item 23 — Receipts (FDD pages 58–262)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, the balance due from the Member to Chatime Franchise LLC was $20,108 as of December 31, 2024. In contrast, the balance due from the Member at the end of 2023 was significantly higher, at $300,000. These advances between Chatime and its Member are made in the ordinary course of business.
These advances are notable because they are noninterest bearing and do not have a specific repayment date. Chatime's management anticipates that the $20,108 balance due from the Member at the end of 2024 will be settled within the next year.
It's important to note that there was also a balance due to the Member, amounting to $60,015 as of December 31, 2024, whereas there was no balance due to the Member at the end of 2023. Chatime's management does not expect this balance to be settled within the next year. Understanding these related-party transactions can provide insight into the financial relationship between Chatime and its Member.