Is Bigfoot Forestry required to provide 3 years of financial statements?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
Our fiscal year ends on December 31st . Audited financial statements for Bigfoot Franchising, LLC for the fiscal years ended December 31, 2024 and December 31, 2023 are attached to this Disclosure Document as EXHIBIT "G". Because we have not been in existence for 3 years, we cannot provide all of the financial statements required by the FTC franchise disclosure guidelines.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2025 FDD)
According to Bigfoot Forestry's 2025 Franchise Disclosure Document, the company is not required to provide three years of financial statements. The FDD includes audited financial statements for the fiscal years ended December 31, 2024, and December 31, 2023. Because Bigfoot Forestry has not been in existence for three years, they state that they cannot provide all the financial statements typically required by the FTC franchise disclosure guidelines.
This means that prospective franchisees have a shorter financial history to review compared to more established franchisors. While two years of statements are provided, the absence of a third year could make it more challenging to analyze financial trends and stability.
Potential franchisees should consider this when evaluating the financial viability of Bigfoot Forestry. It would be prudent to ask the franchisor for additional information to supplement the financial statements provided, such as early performance data or projections, to gain a better understanding of the company's financial health and potential.