What was the net income for 360 Painting in 2022?
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)
The 2025 Franchise Disclosure Document for 360 Painting does not include the specific net income for 360 Painting, LLC itself for the year 2022. Instead, the FDD includes 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.
Because the financial statements provided are for Premium Service Brands, LLC and Subsidiaries, rather than 360 Painting individually, a prospective franchisee cannot determine the precise profitability of the 360 Painting franchise operations from this document. The document does state that Premium Service Brands, LLC guarantees the obligations of 360 Painting, LLC to its franchisees.
To obtain a clearer picture of 360 Painting's financial performance, a potential franchisee should consider asking the franchisor directly for 360 Painting's individual financial statements. This would provide more specific insight into the franchise's revenue, expenses, and profitability, which is essential for making an informed investment decision.