On what date did Black Bear Diner's fiscal year end in 2022?
Black_Bear_Diner Franchise · 2025 FDDAnswer from 2025 FDD Document
Fiscal Year: The Company utilizes a 52-/53-week fiscal year ending on the last Wednesday prior to December 31. The Company's financial statements reflect accounts and balances as of and for the fiscal years ended December 27, 2023 and December 28, 2022, which both contained 52 weeks.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Black Bear Diner's 2025 Franchise Disclosure Document, the company utilizes a 52-/53-week fiscal year that ends on the last Wednesday prior to December 31. The financial statements for Black Bear Diner reflect accounts and balances as of and for the fiscal year ended December 28, 2022. Therefore, Black Bear Diner's fiscal year ended on December 28, 2022, which contained 52 weeks.
Understanding the fiscal year-end is important for prospective franchisees as it sets the timeline for financial reporting and performance evaluations. Franchisees should be aware of how the fiscal year impacts their own financial planning and reporting obligations to Black Bear Diner.
Black Bear Diner's use of a 52/53-week fiscal year is not uncommon, as it allows the company to end its fiscal year on the same day of the week each year, which can simplify accounting processes. Franchisees should ensure they understand how this structure affects the timing of financial reports and any related deadlines.