For Afuri Ramen Dumpling, on which pages of the FDD can I find the Notes to Financial Statements?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
rest | $ | 2,004 | s | | | Appen barra on market | | 2,000 | _ | |
AFURI FRANCHISE, INC. NOTES TO FINANCIAL STATEMENTS
December 31, 2021 and 2020
NOTE 1. NATURE OF BUSINESS
Afuri Franchise, Inc. (the Company), was incorporated in Oregon on July 10, 2017. The Company is in the business of offering franchise opportunities for "Afuri Ramen + Dumpling" and "Afuri Izakaya" restaurants. Named after the Japanese mountain, Afuri's signature ramen is made with yuzu, a small yellow citrus fruit native to Asia and splashed with fresh chicken broth which pairs perfectly with charcoal-grilled pork.
The Company had three and two operating franchise restaurants in the United States at December 31, 2021 and 2020, respectively. The Company had agreements for six additional restaurants in the United States at December 31, 2021.
The Company had four operating franchise restaurants outside of the United States at December 31, 2021 and 2020. The Company had agreements for twelve additional restaurants outside of the United States at December 31, 2021.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
This summary of the major accounting policies of the Company is presented to assist the reader in evaluating the Company's financial statements.
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, the Notes to Financial Statements can be found on multiple pages. Specifically, these notes appear on page 59, page 72, page 83, and page 85. These notes are crucial for understanding the financial health and accounting practices of Afuri Franchise, Inc.
These notes provide additional context and details about the financial statements, offering insights into various aspects of the company's operations. For instance, they cover the nature of the business, significant accounting policies, franchising activities, related party transactions, and potential risks. Reviewing these notes will help a prospective franchisee gain a deeper understanding of how Afuri Ramen Dumpling manages its finances and the factors that could impact its financial performance.
For example, the notes discuss the initial franchise fee of $45,000, the basis of presentation for the financial statements, and how the company handles foreign transactions. They also detail related party transactions, such as management fees paid, and concentrations of risk, such as reliance on a small number of franchisees for a significant portion of revenue. Understanding these details is essential for making an informed investment decision.
Therefore, a thorough review of pages 59, 72, 83, and 85 of the FDD, where the Notes to Financial Statements are located, is highly recommended for any potential Afuri Ramen Dumpling franchisee.