On what date did Buona's fiscal year end in 2024?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
DECEMBER 29, 2024 AND DECEMBER 31, 2023 FOR THE FISCAL YEARS ENDED STATEMENTS OF CASH FLOWS CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING LLC
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the fiscal year for Chicago's Original Italian Beef Franchising LLC ended on December 29, 2024. The FDD also references another date, December 31, 2023, in the context of statements of cash flows and changes in members' equity.
This indicates that Buona may use different fiscal year-end dates for different financial statements or entities within the organization. It's common for companies to align their fiscal year with a specific business cycle or accounting period, and the choice of December 29th suggests that Buona may be using a 52-53 week fiscal year, which ends on the same day of the week each year.
For a prospective franchisee, understanding the franchisor's fiscal year-end is important for financial planning and reporting. It dictates the periods for which financial performance is measured and compared. Franchisees should clarify with Buona which fiscal year-end date applies to their specific franchise agreement and reporting obligations.