When was Extreme Art Studio Franchising, LLC formed?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Extreme Art Studio Franchising, LLC (the "Company") was formed on July 20, 2023 as a Minnesota Limited Liability Company for the principal purpose of conducting franchise sales, marketing, and management under the brand name Extreme Art Studio.
The Company uses the accrual basis of accounting, and their accounting period is the 12-month period ending December 31 of each year.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Extreme Art Studio Franchising, LLC was formed on July 20, 2023. It was established as a Minnesota Limited Liability Company. The primary purpose of the company is to conduct franchise sales, marketing, and management under the Extreme Art Studio brand name.
Extreme Art Studio Franchising, LLC uses the accrual basis of accounting for its financial reporting. The company's accounting period is based on a 12-month cycle, concluding on December 31 of each year. This information is relevant to prospective franchisees as it provides insight into the company's operational structure and financial practices.
Understanding the formation date and accounting practices of Extreme Art Studio Franchising, LLC can help potential franchisees assess the maturity and stability of the franchise system. Knowing that the company was recently formed in 2023, franchisees might consider this when evaluating the risks and opportunities associated with investing in a newer franchise brand. They may want to inquire about the franchisor's strategic plans for growth and development.