Where can I find the consolidated audited financial statements of the Guarantor for Amerispec Inspection Services?
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 FDD, the consolidated audited financial statements of the Guarantor, as of December 31, 2023, and December 31, 2024, are included as Exhibit B to the Disclosure Document. The Guarantor also provides a Guaranty of the Franchisor's obligations to the franchisee under the Franchise Agreement, which is included in the same exhibit.
Because the Guarantor, TCB Services HoldCo, LLC, was organized on February 24, 2023, and began operating on March 31, 2023, the FDD does not include three full years of audited financial statements for the Guarantor. This is due to the FTC Rule's 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 the Guarantor. It is important to note that the absence of three full years of audited financial statements is not necessarily a negative indicator, but rather a consequence of the Guarantor's recent establishment. Franchisees may want to seek professional financial advice to fully understand the implications of the provided financial statements.