What was the amount of 360 Painting's other revenues in 2024?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit B to this disclosure document contains the audited consolidated financial statements of our affiliate, Premium Service Brands, LLC and Subsidiaries, as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022.
Our separate financial statements are not included in this disclosure document. Should we fail to fulfill our duties and obligations to our franchisees under their franchise agreements, Premium Service Brands, LLC absolutely and unconditionally guaranteesto assume those duties and obligations. Copies of the Guarantees of Performance by Premium Service Brands, LLC are included in Exhibit B.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, the financial statements of 360 Painting, LLC itself are not included in the disclosure document. Instead, the document contains the audited consolidated financial statements of its affiliate, Premium Service Brands, LLC and Subsidiaries, for the years ended December 31, 2024, December 31, 2023, and December 31, 2022. Premium Service Brands, LLC guarantees the obligations of 360 Painting, LLC to its franchisees. Therefore, the FDD does not provide specific revenue figures for 360 Painting. Prospective franchisees should ask the franchisor for the separate financial statements of 360 Painting, LLC to obtain a clear picture of the franchisor's financial performance. This will help them assess the financial stability and overall health of the 360 Painting franchise system.. Without these figures, it is difficult to assess the financial performance and stability of 360 Painting as a standalone entity. Understanding the franchisor's revenue streams and profitability is crucial for making an informed investment decision.
The consolidated financial statements of Premium Service Brands, LLC, while providing some insight into the overall performance of the parent company and its subsidiaries, do not offer a detailed breakdown of 360 Painting's individual revenue components. This lack of transparency makes it challenging for potential franchisees to evaluate the specific financial contributions of the 360 Painting brand to the larger organization.
To gain a comprehensive understanding of 360 Painting's financial standing, prospective franchisees should specifically request access to the brand's profit and loss (P&L) statements, balance sheets, and cash flow statements. These documents will provide a more granular view of the franchisor's revenue sources, expenses, assets, and liabilities, enabling franchisees to make a more informed assessment of the investment opportunity.