Are the Dog Haus financial statements presented on a calendar year basis?
Dog_Haus Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Members of Dog Haus Worldwide, LLC
Opinion
We have audited the financial statements of Dog Haus Worldwide, LLC (the Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and members' deficit, and cash flows for the years ended December 31, 2024, 2023 and 2022, and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years ended December 31, 2024, 2023 and 2022 in accordance with accounting principles generally accepted in the United States of America.
Notes to Financial Statements December 31, 2024, 2023 and 2022
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 87)
What This Means (2025 FDD)
According to Dog Haus's 2025 Franchise Disclosure Document, the company's financial statements are presented on a calendar year basis. The Independent Auditors' Report indicates that the balance sheets are as of December 31, 2024 and 2023, and the statements of operations, members' deficit, and cash flows are for the years ended December 31, 2024, 2023 and 2022. This means that Dog Haus's financial year aligns with the standard calendar year, beginning on January 1 and ending on December 31.
For a prospective franchisee, this is a fairly standard and straightforward approach to financial reporting. It simplifies comparisons with other businesses and aligns with common accounting practices. The notes to the financial statements also reference these dates, further confirming the calendar year basis.
Specifically, Note 1 to the Financial Statements indicates that Dog Haus Worldwide, LLC was formed on March 7, 2018. Notes to the Financial Statements are provided for December 31, 2024, 2023, and 2022. Furthermore, the company's indefinite lived intangible asset impairment was tested as of December 31, 2024 and 2023. The employee 401(k) plan details are provided for the year ended December 31, 2024.
The consistency in reporting periods allows potential franchisees to review historical financial data and understand the company's performance over comparable periods. This transparency is essential for making informed investment decisions.