What was the total reported amount for Gold Star long-term liabilities for 2024?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
| Long-Term Liabilities | ||||||
|---|---|---|---|---|---|---|
| (Less Current Portion) | ||||||
| Line of Credit | 1,399,992 | - | - | - | 1,399,992 | |
| Installment Note Payable | 7,151,608 | 5,931,166 | - | (1,817,565) | 11,265,209 | |
| Operating Lease Liabilities | 8,674,979 | - | 1,855,590 | - | 10,530,569 | |
| Advances - Related Party | - | - | 3,441,832 | (3,441,832) | - | |
| Deferred Franchise Fees | 60,041 | - | 5 ,867 | - | 65,908 | |
| Total Long-Term Liabilities | 17,286,620 | 5,931,166 | 5,303,289 | (5,259,397) | 23,261,678 |
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, the company's total long-term liabilities for the year ending December 31, 2024, amounted to $23,261,678. This figure encompasses several components, including a line of credit, installment notes payable, operating lease liabilities, and deferred franchise fees.
Specifically, the long-term liabilities include a line of credit of $1,399,992, installment notes payable totaling $11,265,209, operating lease liabilities of $10,530,569 and deferred franchise fees of $65,908. These figures provide a snapshot of Gold Star's financial obligations extending beyond the current year.
Prospective franchisees should understand the implications of these liabilities. While it is common for established companies to carry long-term debt, the size and nature of these liabilities can impact Gold Star's financial flexibility and ability to invest in future growth. Reviewing these figures in comparison to Gold Star's assets and revenue can provide a more complete picture of the company's financial health. It is also important to note that the liabilities of GSC Properties, LLC are also included in the total liabilities.