For Hawaiian Bros Island Grill, what was the last day of the fiscal year ending in 2024?
Hawaiian_Bros_Island_Grill Franchise · 2025 FDDAnswer from 2025 FDD Document
Moss Adams, LLP, agrees to the inclusion in the Franchise Disclosure Document issued by Hawaiian Bros Franchising, LLC (Franchisor) on May 20, 2025, as it may be amended, of our report dated March 17, 2025, relating to the financial statements of the Franchisor, which is comprised of the balance sheets as of December 29, 2024 and December 31, 2023, and the related statements of operations, member's equity, and cash flows for the years ended December 29, 2024, and December 31, 2023, and for the period from September 16, 2022 to December 25, 2022, and the related notes to the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 77)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, Hawaiian Bros Island Grill's fiscal year ended on December 29, 2024. This date is significant because the franchisor's financial statements, which include balance sheets, statements of operations, member's equity, and cash flows, are prepared as of and for the years ending on this date. These financial statements are audited by Moss Adams, LLP, and their report is included in the FDD.
For a prospective franchisee, understanding the fiscal year-end is important for several reasons. First, it sets the timeline for when the franchisee will need to submit their own financial statements to Hawaiian Bros Island Grill. Franchisees are required to provide monthly financial reports within 30 days of the month's end, and annual financial statements within 45 days after the fiscal year ends (or 90 days if an audit or review is required). Second, the franchisor's financial performance, as presented in the FDD, is based on this fiscal year, providing a benchmark for evaluating the brand's financial health.
It is also important to note that Hawaiian Bros Island Grill has the right to disclose anonymized or aggregated results of operations from its franchisees. Therefore, the franchisee's financial data contributes to the overall financial picture of the franchise system, which is then used for reporting and analysis by the franchisor. The franchisor's ability to set and potentially change the fiscal year-end also gives them some flexibility in managing financial reporting deadlines and aligning them with their business needs.