What is Chatime's fiscal year end?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying financial statements of Chatime Franchise LLC (a limited liability company) which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and member's equity (deficit) and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 21 — Financial Statements (FDD page 58)
What This Means (2025 FDD)
According to the 2025 Chatime Franchise Disclosure Document, Chatime's fiscal year ends on December 31. This is based on the independent auditor's report which references balance sheets as of December 31, 2024 and 2023, and the related statements of operations and member's equity (deficit) and cash flows for the years then ended. This indicates that Chatime operates on a calendar year for its financial reporting.
For a prospective franchisee, this means that all financial performance data presented in the FDD, such as revenue, expenses, and profits, are calculated on a January 1 to December 31 basis. Franchisees can expect their financial reporting to Chatime to align with this fiscal year. This is a fairly common practice, as many businesses align their fiscal year with the calendar year for simplicity and consistency.
Understanding Chatime's fiscal year is important for comparing financial performance year-over-year and for aligning your own accounting practices with the franchisor's. It also helps in understanding the timing of financial reports and any related obligations to Chatime.