As of the date of this FDD, how many years of financial statements are included for Beard Papas?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
t the financial statements were available to be issued. Management has determined that there are no subsequent events required to be recorded or disclosed.
3. Concentrations of Risks
Credit Risk
Financial instruments which potentially subject the Company to concentration of credit risk are primarily cash and cash equivalents, and accounts receivable. The Company places its cash and cash equivalents in accounts with three financial institutions that are participating members of the U.S. Federal Deposit Insurance Corporation ("FDIC"). During the years ended December 31, 2024 and 2023, the Company's cash and cash equivalent balances exceeded the FDIC limit from time to time.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beard Papas Franchise Disclosure Document, the company includes financial data for two years. Specifically, the document references financial figures for the years ended December 31, 2024, and December 31, 2023, in relation to credit risk and major customers. Additionally, amortization expenses are provided for the years ended December 31, 2023, and December 31, 2022.
This indicates that prospective franchisees can review two to three years' worth of financial performance metrics to understand recent trends and financial health. These metrics include cash and cash equivalents, revenue percentages from major customers, and amortization expenses.
While the FDD includes data from 2022, 2023, and 2024, the primary comparative analysis focuses on 2023 and 2024. Franchisees should note that having only two years of detailed financial statements is less than some franchises provide, and should consider this when evaluating the financial stability and trends of Beard Papas.