Does Byrider Franchising Partners include all financial statements required by the Federal Trade Commission Franchise Rule?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit A contains an unaudited opening balance sheet of Byrider Franchising Partners as of September 5, 2024. Byrider Franchising Partners has not been in business for three years or more and cannot include all the financial statements required by the Federal Trade Commission Franchise Rule.
Source: Item 21 — Financial Statements (FDD page 87)
What This Means (2025 FDD)
According to the 2025 FDD, Byrider Franchising Partners does not include all financial statements required by the Federal Trade Commission Franchise Rule. The FDD includes an unaudited opening balance sheet as of September 5, 2024. However, because Byrider Franchising Partners has not been in business for three years or more, it is not required to include all the financial statements mandated by the FTC Franchise Rule.
This means that prospective franchisees will have less historical financial data to review compared to established franchisors with longer operating histories. The limited financial statements may make it more challenging for potential franchisees to assess the financial stability and performance of Byrider Franchising Partners.
It is important for potential franchisees to carefully review the provided balance sheet and conduct thorough due diligence. This includes seeking professional financial advice and potentially requesting additional financial information from Byrider to gain a better understanding of the company's financial position and future prospects.