What is the fiscal year end for Better Blend?
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 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, the company's fiscal year ends on December 31. This is explicitly stated in Item 21, which discusses the financial statements. The financial statements included in the FDD are for the year ended December 31, 2023, and the balance sheet as of December 31, 2022.
For a prospective franchisee, understanding the franchisor's fiscal year-end is important for several reasons. It provides a reference point for evaluating the financial performance data presented in the FDD. The franchisee can use this information to compare Better Blend's financial performance over different periods and assess its overall financial health.
Knowing the fiscal year-end also helps franchisees align their own financial planning and reporting with that of Better Blend. This can be particularly relevant for budgeting, forecasting, and tracking key performance indicators. Additionally, it ensures that franchisees are aware of the timeframe used for royalty calculations, marketing fees, and other financial obligations to Better Blend.
In the franchise industry, a December 31 fiscal year-end is a common practice, as it aligns with the calendar year. This makes it easier for franchisees and franchisors to compare their financial performance to industry benchmarks and trends. However, it is always prudent for a prospective franchisee to confirm this information and understand any potential implications for their own business operations.