For 360 Painting's consolidated financial statements, which entities' accounts are included?
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.
The fiscal year for both us and Premium Service Brands, LLC is December 31st of each calendar year.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the audited consolidated financial statements provided are those of Premium Service Brands, LLC and its Subsidiaries. These financial statements cover the years ended December 31, 2024, December 31, 2023, and December 31, 2022.
It is important to note that 360 Painting's separate financial statements are not included in the document. However, Premium Service Brands, LLC provides an absolute and unconditional guarantee to assume the duties and obligations to 360 Painting franchisees should 360 Painting fail to fulfill them.
The fiscal year for both 360 Painting and Premium Service Brands, LLC ends on December 31st of each calendar year. This information is crucial for prospective franchisees to understand the financial backing and reporting structure of the 360 Painting franchise system.