Why doesn't All Dogs Unleashed include all the financial statements required by Item 21?
All_Dogs_Unleashed Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this disclosure document as Exhibit F, are our audited financial statements as of December 31, 2024, December 31, 2023, and December 31, 2022.
Our fiscal year ends December 31. We have not been in business for three years or more and, therefore, cannot include all the financial statements required by this Item.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 48)
What This Means (2025 FDD)
According to All Dogs Unleashed's 2025 Franchise Disclosure Document, the franchisor has included audited financial statements as Exhibit F, covering the years ending December 31, 2024, December 31, 2023, and December 31, 2022. However, All Dogs Unleashed states that they have not been in business for three years or more.
Because All Dogs Unleashed has not been in business for at least three years, they cannot fulfill the requirement to include three years of financial statements as typically mandated by Item 21 of the FDD. This is a common exception for newer franchise systems.
Prospective franchisees should be aware that the limited financial history might make it more challenging to fully assess the financial stability and performance of All Dogs Unleashed. It would be prudent to carefully review the provided financial statements and consider consulting with a financial advisor to better understand the risks and opportunities associated with investing in this franchise.