For Annex Brands, what fiscal years are the historical numbers in Item 20 based on?

According to Annex Brands's 2025 Franchise Disclosure Document, the historical numbers presented in Item 20, which covers outlet and franchisee information, are based on the company's fiscal years ending September 30, 2022, 2023, and 2024. This means that the data provided on franchise locations, transfers, terminations, and other changes in the franchise system reflect Annex Brands's performance and activities during these specific periods.

For a prospective franchisee, this information is crucial for understanding the recent trends and changes within the Annex Brands franchise system. By examining the data from these three fiscal years, potential franchisees can assess the growth, stability, and overall health of the franchise network. This includes evaluating the number of new outlets opened, the number of terminations or non-renewals, and the number of franchise transfers.

Understanding the specific time frame that the data covers allows potential franchisees to contextualize the information and make informed decisions. For example, if there was a significant increase in outlet closures in 2022, a franchisee might want to investigate the reasons behind this trend and whether it is likely to continue. Similarly, a consistent growth in the number of outlets could be a positive indicator of the brand's strength and market demand. Therefore, the specific fiscal years covered in Item 20 provide a valuable benchmark for evaluating the franchise opportunity.