What fiscal years are covered by the audited financial statements for Hydrodog?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Ownership of Legacy Franchisors LLC D/B/A Hydrodog
Opinion
We have audited the accompanying financial statements of Legacy Franchisors LLC D/B/A Hydrodog (a Maine Limited Liability Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations, members' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Legacy Franchisors LLC D/B/A Hydrodog as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, the audited financial statements included cover the fiscal years ending December 31, 2024, and December 31, 2023. This means that the financial performance and position of Hydrodog are presented for these two consecutive years, offering a comparative view of the company's financial health.
For a prospective franchisee, reviewing these audited statements is crucial for assessing the financial stability and performance trends of Hydrodog. The balance sheets detail the company's assets, liabilities, and equity as of the end of each year, while the statements of operations, member's equity, and cash flows reveal how the company generated revenue, managed its equity, and utilized cash during those years. Understanding these aspects can help a franchisee evaluate the potential risks and rewards associated with investing in a Hydrodog franchise.
The independent auditor's opinion indicates that the financial statements fairly represent Hydrodog's financial position and results of operations in accordance with generally accepted accounting principles (GAAP). This provides a level of assurance that the information presented is reliable and has been vetted by an independent third party. The audit was conducted following auditing standards generally accepted in the United States of America.
It is important for potential franchisees to carefully examine the notes to the financial statements, as these provide additional details and explanations of the amounts presented in the primary statements. These notes can offer insights into significant accounting policies, estimates, and any potential risks or uncertainties that could impact Hydrodog's future financial performance. Consulting with a financial advisor to review and interpret these statements is advisable for any prospective franchisee.