What was the amount of Parent Company advances (net) for My Salon Suite in 2021?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2,569,087 | $ 17,655,295 |
|---|
Consolidated Statements of Changes in Member's Equity
| Common Shares | stock | Amount | Additional Paid-in Capital | Retained Earnings | Total | |
|---|---|---|---|---|---|---|
| Balance | 1,000 | $ | 1,000 | $ 326,062,998 | $ 39,734,388 | $ 365,798,386 |
| at | ||||||
| December | ||||||
| 31, | ||||||
| 2021 | ||||||
| Parent | - | - | (11,618,027) | - | (11,6 |
Source: Item 6 — Other Intangibles and Goodwill (FDD pages 274–314)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the net advances to the parent company in 2021 were a negative amount, specifically $(11,618,027). This figure reflects the net cash outflow from My Salon Suite to its parent company during that year. These advances are unsecured, bear no interest, and are due on demand.
This type of transaction is presented as a component of additional paid-in capital on the Consolidated Statement of Members Equity. For a prospective franchisee, this indicates the financial relationship between My Salon Suite and its parent company, showing how funds are transferred between the two entities.
It's important to note that the 2021 figure is a net amount, meaning it accounts for both advances from My Salon Suite to the parent company and any repayments or other transactions flowing in the opposite direction. Reviewing these historical transactions can provide insight into the financial management and capital structure of My Salon Suite.