What is the primary purpose of GOLDMEMBER, LLC in relation to the Crown Gold Exchange brand?

According to the 2024 Franchise Disclosure Document, GOLDMEMBER, LLC was formed to offer franchise opportunities to individuals interested in owning a Crown Gold Exchange location. GOLDMEMBER, LLC, the franchisor, was incorporated in Idaho. The company's revenues are primarily derived from franchise fees, both one-time and recurring monthly fees. These fees are recognized as revenue when evidence of an arrangement exists, delivery has occurred, or services have been rendered, the price is fixed, and collectability is reasonably assured.

The FDD also details how GOLDMEMBER, LLC accounts for pre-opening activities provided to franchisees. Some of these activities, which are not brand-specific, are treated as distinct performance obligations, separate from the franchise license. These activities provide franchisees with general business information. All other pre-opening activities that are highly interrelated and interdependent to the access of the Company's intellectual property are accounted for as a single performance obligation, which is satisfied by granting certain rights to access the Company's intellectual property over the term of each franchise agreement.

For prospective Crown Gold Exchange franchisees, this means that GOLDMEMBER, LLC is the entity they will be dealing with when purchasing and operating their franchise. Understanding the revenue recognition policies and how pre-opening activities are accounted for can provide insight into the financial relationship between the franchisee and franchisor. The financial statements of GOLDMEMBER, LLC are audited by an independent accountant, and their report is included in the FDD, offering an opinion on the fairness of the company's financial presentation.