When did Kidokinetics convert into a Florida limited liability company?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
We were formed in the State of Florida on July 29, 2005 as a Florida corporation, Kidokinetics Franchise Corp., and converted into a Florida limited liability company on March 9, 2021.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 8–9)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, Kidokinetics was originally formed as a Florida corporation on July 29, 2005, under the name Kidokinetics Franchise Corp. Subsequently, on March 9, 2021, Kidokinetics converted into a Florida limited liability company. This change in legal structure may have implications for liability, taxation, and operational flexibility for both the franchisor and its franchisees.
For a prospective franchisee, understanding the franchisor's legal structure is important because it can affect the stability and long-term viability of the franchise system. The conversion to a limited liability company could indicate a strategic decision by Kidokinetics to better manage risk or streamline operations. It is common for franchisors to evolve their legal structure as they grow and adapt to changing business conditions.
Franchisees should consider discussing the reasons behind this conversion with Kidokinetics to gain a better understanding of its potential impact. While the FDD provides this date, further due diligence into the company's history and legal standing is advisable for anyone considering investing in a Kidokinetics franchise.