Where can I find the guaranty of GoTo Systems related to the Auntie Annes franchise agreement?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
established the FAC to use as a sounding board on issues that affect the System in the areas of brand development, franchise support, new business, marketing, product, design, equipment, operations and new revenue channels. The address for the FAC is 5620 Glenridge Drive NE, Atlanta, GA 30342. The FAC does not maintain a separate telephone number, email address or website.
Independent Franchisee Organizations
As of the date of this Disclosure Document, no independent franchisee organizations have asked to be included in this Disclosure Document.
ITEM 21. FINANCIAL STATEMENTS
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.
ITEM 22. CONTRACTS
The following contracts and related documents are attached to this Disclosure Document.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 105–106)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, the guaranty of GoTo Systems is included as Exhibit A. Item 21 states that the audited financial statements of GoTo Systems, Auntie Anne's parent company, are attached as Exhibit A. These statements include consolidated balance sheets as of December 31, 2023, and December 25, 2022, along with related consolidated statements. The FDD specifies that GoTo Systems guarantees Auntie Anne's obligations under the Franchise Agreement, and a copy of this guaranty is attached as Exhibit A.
Exhibit A also contains a Guarantee of Performance from GoTo Foods Systems LLC, which unconditionally guarantees to assume the duties and obligations of Auntie Anne's Franchisor SPV LLC under its franchise registration and Franchise Agreement. This guarantee remains in effect until all obligations of the Franchisor are satisfied or the liability of Franchisor to its franchisees under the Franchise Agreement has been completely discharged.
For a prospective franchisee, this means that GoTo Systems is financially backing Auntie Anne's obligations to its franchisees. By including this guarantee in the FDD as Exhibit A, Auntie Anne's provides potential franchisees with assurance that its parent company is committed to fulfilling the franchisor's responsibilities outlined in the Franchise Agreement. This can be a significant factor in assessing the stability and reliability of the franchise opportunity.