What is Desi District's fiscal year end?
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 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Desi District's 2024 Franchise Disclosure Document, the company's fiscal year ends on December 31. Because Desi District has not been in business for at least three years, the FDD does not include all financial statements typically required by the Federal Trade Commission's Franchise Rule. However, Exhibit F contains Desi District's audited opening balance sheet dated June 15, 2024.
For prospective franchisees, the fiscal year-end is an important date for understanding the financial reporting cycle of Desi District. It signifies when the company closes its books and prepares its annual financial statements. This information can be useful for comparing Desi District's financial performance year-over-year, once the company has been in operation long enough to provide those statements.
Because Desi District is a relatively new franchisor, the financial statements included in the FDD are limited. As the company matures, future FDDs will likely include more comprehensive financial statements covering multiple years, which will provide a more detailed picture of the company's financial health and performance. Franchisees should pay attention to these statements in future years to assess the stability and growth of the Desi District franchise system.