As of December 31, 2023, what was the amount due to a related party from Mr. Sandless?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
eriodically advances funds to its members' or related companies. These advances are due on demand and bear no interest. As of December 31, 2024, and 2023, the balance due from a related party was $300 and $64,122, respectively.
The Com
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, as of December 31, 2023, the amount due to a related party was $0. The FDD notes that Mr. Sandless periodically receives funds from its members or related companies, and these advances are due on demand and do not bear interest.
This indicates that Mr. Sandless did not owe any money to related parties at the end of 2023. This could be a positive sign for potential franchisees, as it suggests that Mr. Sandless is managing its finances in a way that does not create debt to related entities.
It's important to note that this is just a snapshot in time, and the amount due to related parties could fluctuate. A prospective franchisee should review the complete financial statements and ask Mr. Sandless about its related party transactions to gain a better understanding of the company's financial health and practices.