Where in Exhibit B of the 360 Painting FDD can I find the Independent Auditors' Report?
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.
EXHIBIT B
TO 360 PAINTING, LLC FRANCHISE DISCLOSURE DOCUMENT
FINANCIAL STATEMENTS AND GUARANTEES OF PERFORMANCE
Premium Service Brands, LLC and Subsidiaries
Consolidated Financial Statements
For the years ended December 31, 2024 and 2023
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 360 Painting Franchise Disclosure Document, Exhibit B contains the audited consolidated financial statements of 360 Painting's affiliate, Premium Service Brands, LLC and Subsidiaries, as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. The exhibit also includes copies of the Guarantees of Performance by Premium Service Brands, LLC.
Prospective franchisees should review these financial statements and guarantees carefully. The financial statements provide insight into the financial health and performance of Premium Service Brands, LLC, which guarantees the obligations of 360 Painting to its franchisees. Understanding the guarantor's financial position is crucial for assessing the security of the franchise agreement.
It is important to note that the separate financial statements of 360 Painting itself are not included in the disclosure document. This means that the financial performance of the specific franchise system is not directly detailed. A potential franchisee may want to request these separate financial statements from 360 Painting to gain a more complete understanding of the franchise's financial standing.
The fiscal year for both 360 Painting and Premium Service Brands, LLC ends on December 31st of each calendar year. This is a standard practice, but it's helpful to know when assessing the provided financial data.