How long is the fiscal year for Floyds 99?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
To the Member Floyd's 99 Franchising, LLC
Opinion
We have audited the financial statements of Floyd's 99 Franchising, LLC (the "Company"), which comprise the balance sheet as of December 29, 2024; December 31, 2023; and December 25, 2022 and the related statements of operations, member's equity, and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the company's fiscal year ends around the end of December. The Independent Auditor's Report shows balance sheets as of December 29, 2024; December 31, 2023; and December 25, 2022. This indicates that Floyds 99 operates on a standard annual fiscal calendar.
For a prospective franchisee, understanding the franchisor's fiscal year is important for financial planning and reporting. Franchisees are typically required to submit regular financial reports to the franchisor, and these reports must align with the franchisor's fiscal calendar.
Additionally, the FDD states that franchisees must preserve financial records for at least five years after the fiscal year to which they relate. Knowing the fiscal year-end helps franchisees maintain accurate records and comply with the franchisor's requirements.