What is the fiscal year end for Fly To Fit?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit F contains our audited opening balance sheet dated 4/15/2024. Our fiscal year end is | |
| December 31. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 44)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the company's fiscal year end is December 31. The FDD also notes that because Fly To Fit has not been in business for three years or more, they are unable to include all financial statements required by the Franchise Rule of the Federal Trade Commission. However, Exhibit F contains their audited opening balance sheet dated April 15, 2024.
Understanding a franchisor's fiscal year end is important for prospective franchisees as it sets the timeline for financial reporting. This date determines when Fly To Fit closes its books and generates annual financial statements, which are essential for assessing the company's financial health and performance.
Since Fly To Fit is a relatively new franchise, the available financial history is limited. Franchisees should pay close attention to the opening balance sheet and any available financial data to gain insights into the company's early financial performance. It is also advisable to seek professional financial advice to properly evaluate the financial statements and understand the implications for the franchise opportunity.