What is the fiscal year-end for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
The Company had one operating franchise restaurant in the United States at December 31, 2023. The Company had agreements for fourteen additional restaurants in the United States at December 31, 2023.
The Company had six operating franchise restaurants outside of the United States at December 31, 2023. The Company had agreements for nine additional restaurants outside of the United States at December 31, 2023.
Source: Item 21 — Financial Statements (FDD pages 49–50)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, the company's fiscal year ends on December 31. This is explicitly stated in the notes to the financial statements. Specifically, the notes refer to financial data "at December 31, 2023" and "December 31, 2021 and 2020".
For a prospective franchisee, this means that Afuri Ramen Dumpling uses the calendar year as its fiscal year. This is a fairly common practice, making it easier to compare Afuri Ramen Dumpling's financial performance against other businesses and industry benchmarks that also follow the calendar year.
Understanding the franchisor's fiscal year-end is important for reviewing their financial statements provided in the FDD. Franchisees can use this date to contextualize the financial performance data and assess the overall financial health of Afuri Ramen Dumpling.