What fiscal year end does Southern Steer use?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached as Exhibit B is Our audit report as of September 30, 2024, September 30, 2023, and September 30, 2022. As described in ITEM 1, We were formed on June 30, 2020, and began offering franchises in October 2020.
Our fiscal year end is September 30th.
Source: Item 20 — ITEM. 20 OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–61)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the company's fiscal year ends on September 30th. This is explicitly stated in Item 21, which covers the financial statements of the company.
For a prospective franchisee, understanding the franchisor's fiscal year is important for several reasons. It provides a context for interpreting the financial data presented in the FDD, such as revenue, expenses, and profits. The financial statements included in the FDD are audited as of September 30, 2024, September 30, 2023, and September 30, 2022, giving franchisees insight into the company's financial performance over those periods.
Knowing the fiscal year-end also helps franchisees align their own financial planning and reporting with that of Southern Steer. This can be particularly relevant for budgeting, forecasting, and understanding the timing of royalty payments or other financial obligations to the franchisor. Aligning with the franchisor's fiscal calendar can streamline financial management and ensure consistency in reporting and analysis.
In the franchise industry, fiscal year-ends can vary, but it is common for companies to align their fiscal year with the calendar year or another established period. Southern Steer's choice of September 30th as its fiscal year-end is a specific detail that prospective franchisees should note as they evaluate the financial aspects of the franchise opportunity.