Does Central Bark Doggy Day Care include financial statements in its FDD?
Central_Bark_Doggy_Day_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 1: Franchisee shall have paid all Royalty Fees, advertising fund contributions, LAC contributions, amounts owed for purchases by Franchisee from Franchisor, or Franchisor's affiliates, and all other amounts owed to Franchisor, Franchisor's affiliates, and third-party creditors, and shall have submitted to Franchisor all required reports and statements;]
See notes to financial statements.
NOTES TO FINANCIAL STATEMENTS
1. Description of business and summary of significant accounting policies
Description of business
On March 31, 2022, Barkley Ventures Franchising, LLC (the Company) replaced Barkley Ventures, Inc., the Company's sole member, as the franchisor for all franchise agreements.
Barkley Ventures Franchising, LLC, located in Oakland Park, Florida, was established for the purpose of selling franchises for the operation of a personalized canine care facility offering day care, overnight boarding services, grooming services, training, and a specialty retail boutique for dogs under the name "Central Bark." The Company extends credit to customers located throughout the United States.
Basis of accounting:
The financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Receivables:
Trade accounts receivable represent monthly royalty and service fees collected from each franchise. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Trade receivables are typically outstanding for 30 days or less. Management evaluates the collectability of trade accounts receivable and records an allowance for credit losses representing the estimate of the expected losses that result from all possible default events over the expected life of the receivables. The Company estimates the allowance based on historical write-off experience and current relationships with customers. The allowance for credit losses as well as the provision for credit losses, write-off activity and recoveries for the years presented are not material to the financial statements. The Company does not have any significant offbalance-sheet credit exposure related to its customers.
Use of estimates:
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
1. Description of business and summary of significant accounting policies (continued)
Revenue recognition:
Source: Item 21 — Financial Statements (FDD page 53)
What This Means (2025 FDD)
According to Central Bark Doggy Day Care's 2025 Franchise Disclosure Document, the document includes notes to the financial statements. These notes provide context and details about the financial statements themselves.
The notes describe the business, stating that Barkley Ventures Franchising, LLC became the franchisor on March 31, 2022, replacing Barkley Ventures, Inc. The company focuses on selling franchises for Central Bark facilities, which offer services like daycare, boarding, grooming, training, and retail for dogs. The company extends credit to customers throughout the United States.
The notes also explain the basis of accounting, which follows generally accepted accounting principles (GAAP) in the United States. They address how receivables are managed, including the evaluation of collectability and the recording of allowances for credit losses. Management makes estimates and assumptions that could affect reported amounts, and actual results may differ. These notes offer insight into the financial practices and structure of Central Bark Doggy Day Care, providing prospective franchisees with a clearer understanding of the franchisor's financial operations.