Does the 'Net Income from Operations' figure for Byrider include revenue or expenses from related warranty reinsurance and real estate holding companies?

According to Byrider's 2025 Franchise Disclosure Document, the 'Net Income from Operations' figures presented do not include revenue or expenses from related warranty reinsurance and real estate holding companies. This is explicitly stated in a note accompanying the financial performance representations.

For a prospective franchisee, this means that the reported net income from operations reflects only the direct performance of the Byrider franchise itself, without the influence of any financial activities from affiliated warranty or real estate entities. This provides a clearer picture of the core business's profitability.

It is important for potential franchisees to understand this distinction, as related companies could significantly impact the overall financial picture. Franchisees should inquire about the performance and financial structure of these related entities to gain a comprehensive understanding of the Byrider business model. Understanding the potential impact of these related entities can help a franchisee make a more informed investment decision.