Does Item 21 include a balance sheet for Dryer Vent Squad?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
and the Initial | | | Franchise Fee is $35,000. | | | | | | Franchisee’s Operating Territory is comprised of a Double Territory and the Initial | | | Franchise Fee is $70,000. | | | | |
DVS Holdings, Inc.
Note to Balance Sheet
March 20, 2024
Note 1 - Nature of Business and Significant Accounting Policies
DVS Holdings, Inc. (the "Company") is organized in the state of New Jersey. The Company is a wholly owned and was formed November 15, 2023 (date of inception) for the purpose of purchasing and operating certain assets, as discussed in the subsequent events below.
Basis of Presentation
On March 15, 2024, the Company acquired certain assets of Dryer vent Squad Franchising, LLC. The primary reason for the acquisition was to acq
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 50–51)
What This Means (2024 FDD)
Yes, according to the 2024 Dryer Vent Squad FDD, Item 23 includes a balance sheet. Specifically, the balance sheet is for DVS Holdings, Inc. with a note indicating that the company was formed on November 15, 2023, in New Jersey.
The balance sheet was issued on March 20, 2024. It also states that on March 15, 2024, DVS Holdings, Inc. acquired certain assets of Dryer Vent Squad Franchising, LLC, primarily to market, sell, and support Dryer Vent Squad franchises.
The document notes that as of the date the balance sheet was available, the assets and future royalties were valued in excess of $1,000,000. This information is crucial for prospective franchisees to understand the financial standing of the parent company and the value of the assets they are acquiring rights to through the franchise agreement.