What is the 'Franchisee Complete Set' in the Byrider Item 19 data comprised of?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
As of December 31, 2023, there were a total of 128 Byrider Businesses independently owned and operated by franchisees. However, 15 of those 128 Byrider Businesses were operated by franchisees that, as of September 2024, became affiliates of Byrider Franchising Partners ("Company-Owned Stores"). 92 of the remaining 113 Franchisee-Owned Stores operated during the entirety of 2022 and 2023 (referred to as the "Franchisee Complete Set"), and 8 of the 15 Company-Owned Stores also operated during the entirety of 2022 and 2023 (referred to as the "Company-Owned Complete Set, and together with the Franchisee Complete Set, the "Complete Set").
Source: Item 19 — Financial Performance Representations (FDD pages 63–81)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, the 'Franchisee Complete Set' used in Item 19 consists of 92 franchisee-owned stores. These stores operated for the entirety of 2022 and 2023. The financial performance data from these stores is used to generate the financial performance representations in Tables A-1 and A-2.
Byrider Franchising Partners compiled the data for these Byrider businesses, utilizing composites from December 31, 2022, and December 31, 2023. The data, which is not independently audited, is based on a 2-year annual average. This is because Byrider businesses are required to establish loss reserves at the time a car is sold and a retail installment contract is initiated.
The FDD also mentions a 'Company-Owned Complete Set,' which includes 8 company-owned stores that operated during the same period. Together, the 'Franchisee Complete Set' and the 'Company-Owned Complete Set' form the 'Complete Set.' The financial data from these sets is presented in various tables within Item 19, providing prospective franchisees with insights into the historical performance of Byrider stores.
It is important to note that the financial information is based on historical performance and may not be indicative of future results. Byrider emphasizes that individual results may vary, and there is no assurance that a franchisee will achieve the same level of financial success. Prospective franchisees should carefully review the financial performance representations and conduct their own due diligence before investing in a Byrider franchise.