As of what dates are the audited financial statements of GoTo Foods included in the Auntie Annes FDD?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
Attached as Exhibit A to this Disclosure Document are the audited financial statements of GoTo Systems, our parent company, which include the consolidated balance sheets as of December 31, 2023 and December 25, 2022 and the related consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 31, 2023, December 25, 2022, and December 26, 2021. GoTo Systems guarantees the performance of our obligations under the Franchise Agreement. A copy of the guaranty of GoTo Systems is attached as Exhibit A.
As reflected in Item 1, GoTo Foods will be providing required support and services to franchisees under a management agreement with us. Attached as Exhibit A are the audited financial statements of GoTo Foods as of and for the fiscal years December 31, 2023 and December 25, 2022. These financial statements are being provided for disclosure purposes only. GoTo Foods is not a party to the Franchise Agreement or other agreement we sign with franchisees nor does it guarantee our obligations under the Franchise Agreement or other agreements we sign with franchisees.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 105–106)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, the audited financial statements of GoTo Foods included are as of December 31, 2023, and December 25, 2022. These statements include consolidated balance sheets, statements of operations, changes in member's equity, and cash flows for the fiscal years ending on those dates, as well as for December 26, 2021.
These financial statements are important for prospective franchisees because they provide insight into the financial health and stability of GoTo Foods, which is the parent company of Auntie Annes. GoTo Foods guarantees the performance of Auntie Annes' obligations under the Franchise Agreement, making its financial standing a relevant factor for franchisees to consider.
The inclusion of these audited financial statements as Exhibit A to the Disclosure Document allows potential Auntie Annes franchisees to review the financial performance of GoTo Foods over the past three fiscal years. This information can help them assess the financial risks and potential rewards associated with investing in an Auntie Annes franchise.