What is the legal structure of Face Foundrie?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
620 | $ | 1,969,123 | $ | 1,611,868 | | Supplemental disclosures of cash flow | $ | 514 | $ | 418 | $ | - | | Cash paid for interest | | | | | | |
NOTES TO THE FINANCIAL STATEMENTS December 31, 2024, 2023 and 2022
(1) Nature of Business and Summary of Significant Accounting Policies
(a) Nature of Business
Face Foundrié Franchising LLC (the "Company") was formed on April 14, 2020 in the state of Minnesota as a limited liability company and provides beauty services with an all-inclusive focused facial bar.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, Face Foundrie Franchising LLC was formed on April 14, 2020, in the state of Minnesota. The company is structured as a limited liability company (LLC).
As an LLC, the income or loss of Face Foundrie is included in the income tax returns of its members, meaning the company itself does not have federal and state income taxes. This structure is designed to provide liability protection to its members while allowing profits and losses to be passed through directly to their personal income without being subject to corporate tax rates.
This information is relevant for prospective Face Foundrie franchisees as it clarifies the legal and financial structure of the company they are considering joining. Understanding the franchisor's legal structure can provide insights into the company's stability and how it manages its financial and legal responsibilities.