Where in the My Salon Suite FDD can I find the Balance Sheets?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
t the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Source: Item 17 — (r) of the FDD and Section 13 of the Franchise Agreement disclose the existence of certain covenants restricting competition to which Franchisee must agree. The Commissioner has held that covenants restricting competition contrary to Section 9-08-06 of the North Dakota Century Code, without further disclosing that such covenants may be subject to this statue, are unfair, unjust, or inequitable within the intent of Section 51-19-09 of the North Dakota Franchise Investment Law. The FDD and the Franchise Agreement are amended accordingly to the extent required by law. (FDD pages 230–274)
What This Means (2025 FDD)
According to the 2025 My Salon Suite Franchise Disclosure Document, the Consolidated Balance Sheets can be found in the document, dated April 28, 2025. A continuation of the balance sheets is also included.
Understanding the balance sheets is crucial for prospective franchisees as it provides a snapshot of My Salon Suite's financial position at a specific point in time. This includes assets, liabilities, and equity, offering insights into the company's ability to meet its financial obligations and manage its resources. Reviewing these statements can help potential franchisees assess the financial stability of My Salon Suite.
Furthermore, the notes to the consolidated financial statements provide additional context and details about the figures presented in the balance sheets. These notes can cover various aspects such as accounting policies, debt obligations, and significant transactions, offering a deeper understanding of My Salon Suite's financial health and performance.