What was the total amount of Zoomin Groomin's due to affiliates in 2023?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| LIABILITIES & EQUITY | |||
| Current Liabilities | |||
| Accounts Payable | $ 12,509 | $ 83,586 | $ 2,056 |
| Due To Affiliates | - | 45,000 | 171,504 |
| Unearned Revenue | 100,000 | 40,000 | - |
| Deferred Tax Asset | 712,478 | 385,004 | - |
| Deferred Revenue - Current | 1,006,725 | 520,782 | 39,540 |
| Total Current Liabilities | 1,831,712 | 1,074,372 | 213,100 |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the total amount due to affiliates in 2023 was $45,000. This figure is listed under the 'Current Liabilities' section of the balance sheet, indicating short-term obligations to related parties.
For a prospective franchisee, 'Due To Affiliates' represents money Zoomin Groomin owes to its related entities. These liabilities can arise from various inter-company transactions, such as loans, services, or shared expenses. Understanding the nature and terms of these affiliate transactions is crucial for assessing the financial health and stability of Zoomin Groomin.
It's important to note that this liability represents an obligation that Zoomin Groomin must settle. Franchisees should consider this information in conjunction with other financial data to evaluate the company's overall financial position and its ability to support its franchisees. Reviewing the complete financial statements and notes, possibly with the help of a financial advisor, will provide a more comprehensive understanding of these related-party transactions and their potential impact.