As of what date is the audited balance sheet for Better Blend included in Exhibit F?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit F contains our audited financial statements for the year ended December 31, 2023, and our | |
| audited balance sheet as of December 31, 2022. Our fiscal year end is December 31. |
Source: Item 23 — RECEIPTS (FDD pages 43–157)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, Exhibit F contains the company's audited financial statements for the year ending December 31, 2023, and their audited balance sheet as of December 31, 2022. This means that prospective franchisees reviewing the FDD can see Better Blend's financial performance and position up to the end of 2023, with a specific balance sheet reflecting the state of the company's assets, liabilities, and equity as of the end of 2022.
Because Better Blend has not been in business for at least three years, they are not required to include all financial statements typically mandated by the Franchise Rule of the Federal Trade Commission. This is a common situation for newer franchises, as they have a limited operating history to report.
For a prospective franchisee, this means they should carefully review the provided financial statements and balance sheet to understand Better Blend's financial health and stability. It would be prudent to ask Better Blend for more current financial information and to discuss their financial projections for the coming years to get a clearer picture of the company's financial trajectory.