What is the fiscal year end for the Hyper Kidz franchise?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
Boomerang Franchise, LLC was formed on May 14, 2018. Our audited financials from December 31, 2021, December 31, 2022, and December 31, 2023 as well as our unaudited balance sheet and statement of operations as of June 19, 2024 are included in Exhibit D.
Our fiscal year end is December 31.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, the fiscal year end for Boomerang Franchise, LLC, which franchises Hyper Kidz, is December 31. This means that the company's financial performance is measured and reported on an annual basis, concluding on this date.
For a prospective Hyper Kidz franchisee, this is important for understanding the financial statements provided in the FDD. The balance sheets, income statements, and cash flow statements are all presented for the years ending on December 31. This allows franchisees to review the brand's financial history and assess its performance over consistent annual periods.
Knowing the fiscal year end also helps franchisees plan their own business operations and financial reporting. Franchisees will likely need to align their accounting practices with the franchisor's fiscal year for consistency in reporting and analysis. This includes preparing their own financial statements and reports to submit to Hyper Kidz, as well as for their own business management and tax purposes.