Is the opening balance sheet of Byrider Franchising Partners audited?

According to Byrider's 2025 Franchise Disclosure Document, the opening balance sheet of Byrider Franchising Partners as of September 5, 2024, is unaudited. This means that the financial information presented in the balance sheet has not been independently verified by a certified public accountant.

For a prospective franchisee, this implies a higher degree of risk when evaluating Byrider's financial position. An audited balance sheet provides more assurance that the financial data is accurate and reliable, as it has been subjected to scrutiny by an independent auditor. Without an audit, there is a greater possibility of errors or misstatements in the financial information.

Byrider also states that it has not been in business for three years or more and therefore cannot include all the financial statements required by the Federal Trade Commission Franchise Rule. This is important for potential franchisees to note, as it limits the amount of historical financial data available for review. Typically, new franchisors might not have extensive financial history, but this lack of a full set of audited financials increases the need for thorough due diligence on the part of the franchisee.

Given that the opening balance sheet is unaudited, it is crucial for potential Byrider franchisees to conduct their own independent financial analysis and seek professional advice before making any investment decisions. This may include consulting with a financial advisor or accountant to review the available financial information and assess the risks associated with investing in a Byrider franchise.