What period does the financial information in this Item 19 cover for Dryer Vent Squad?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
irect requests by our corporate team, or through the CRM system that they are required to report their monthly financial reports). In early 2024 we reconciled the revenue and other information provided by the franchisees relating to the operation of their Dryer vent Squad Business during 2023. We have presented 2023 financial information from 21 franchisees (the "Represented Franchise Owners") who collectively own 32 Dryer Vent Squad Businesses (the "Represented Franchises"), who have owned their businesses at least one (1) year as of December 31, 2023, and operated those franchises throughout all of 2023. We excluded 14 territories from this Item 19 that did not meet the criteria.
The Represented Franchise Owners have been in business for an average of 1.5 years in their markets and operate in a mix of urban, suburban, and rural areas, disbursed geographically throughout the U.S. Some operate on a parttime basis; however, all offer the same products and services that we authorize new Dryer Vent Squad Businesses to sell.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 45–47)
What This Means (2024 FDD)
According to Dryer Vent Squad's 2024 Franchise Disclosure Document, the financial performance data presented in Item 19 covers the one-year period from January 1, 2023, to December 31, 2023. This "Measurement Period" reflects the historical financial performance of 21 Represented Franchise Owners operating 32 Dryer Vent Squad Businesses. To be included, these franchisees must have owned their businesses for at least one year as of December 31, 2023, and operated them throughout all of 2023.
This information is based on revenue and other data that Dryer Vent Squad franchisees provided, which the franchisor reconciled in early 2024. The Represented Franchise Owners operated in various areas, including urban, suburban, and rural settings throughout the U.S. While some operated part-time, all offered the same products and services that new Dryer Vent Squad businesses are authorized to sell.
Prospective franchisees should note that this financial performance representation focuses on revenue and does not include variable costs, fixed operating expenses, or other costs that would be deducted to determine net income or profit. Dryer Vent Squad emphasizes that individual results may vary, and there is no guarantee that a new franchisee will achieve the same level of sales as the Represented Franchise Owners.