What is the exception to the standard fiscal year end for Cream?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
Our fiscal year ends on the fourth Sunday in the fiscal month of December, except when the fourth week of the fiscal month of December ends before December 31st, in which case our fiscal year is extended by one week.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 60)
What This Means (2025 FDD)
According to the 2025 FDD, Cream's fiscal year typically ends on the fourth Sunday of December. However, there is an exception to this rule. If the fourth week of December ends before December 31st, Cream will extend its fiscal year by one week.
For a prospective franchisee, this means that the end of the fiscal year can fluctuate slightly. This could impact financial reporting deadlines and the timing of any financial performance reviews conducted by Cream. It is important to be aware of this potential variation when planning and managing the financial aspects of the franchise.
Understanding the fiscal year-end and its exception is crucial for accurate financial planning and reporting. Franchisees should confirm the specific fiscal year-end date each year with Cream to ensure compliance with reporting requirements.