What date is the audited opening balance sheet for Desi District, as found in Exhibit F?
Desi_District Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit F contains our audited opening balance sheet dated 6/15/2024. Our fiscal year end is | |
| December 31. |
Source: Item 22 — CONTRACTS (FDD page 52)
What This Means (2024 FDD)
According to Desi District's 2024 Franchise Disclosure Document, the audited opening balance sheet included in Exhibit F is dated June 15, 2024. This balance sheet provides a snapshot of the company's financial position at that specific point in time.
Since Desi District has not been in business for three years or more, the FDD does not include all financial statements typically required by the Franchise Rule of the Federal Trade Commission. Instead, the audited opening balance sheet serves as the primary financial document for prospective franchisees to review.
It is important for potential franchisees to carefully examine this balance sheet to understand Desi District's financial standing. This includes assessing assets, liabilities, and equity to gauge the company's financial health and stability. Understanding the opening balance sheet is a crucial step in evaluating the overall risk and opportunity associated with investing in a Desi District franchise.