What financial statements are attached as Exhibit B to the Amerispec Inspection Services Disclosure Document?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this Disclosure Document as Exhibit B is (i) the consolidated audited financial statements of Guarantor, as of December 31, 2023 and December 31, 2024, and (ii) Guarantor's Guaranty of our obligations to you under the Franchise Agreement. Because Guarantor was organized on February 24, 2023 and began operating on March 31, 2023, it does not have available, and we cannot yet include, three full years of audited financial statements for Guarantor.
Source: Item 21 — Financial Statements (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Amerispec Inspection Services Franchise Disclosure Document, Exhibit B includes the consolidated audited financial statements of the Guarantor, TCB Services HoldCo, LLC, as of December 31, 2023, and December 31, 2024. It also contains the Guarantor's guaranty of TCB AmeriSpec, LLC's obligations to the franchisee under the Franchise Agreement.
Because TCB Services HoldCo, LLC, was formed on February 24, 2023, and began operating on March 31, 2023, the FDD notes that three full years of audited financial statements for the Guarantor are not yet available. This is in accordance with the FTC Rule phase-in requirements for financial statements for a franchisor's first full fiscal year selling franchises.
Prospective franchisees should carefully review these financial statements and the guaranty to understand the financial health and obligations of both the franchisor and the guarantor. Understanding the guarantor's financial position is crucial, as they are responsible for ensuring Amerispec Inspection Services fulfills its obligations to franchisees. Franchisees should also note that because the company is relatively new, historical financial data is limited, which may increase the risk associated with this franchise opportunity.