Does the Azal Coffee FDD include statements of operations for the previous three fiscal years?

According to the 2024 Azal Coffee FDD, the document includes a balance sheet but does not explicitly state that it contains statements of operations for the previous three fiscal years. The balance sheet provided is as of July 11, 2024.

Item 22 discusses the reports and financial statements that a franchisee must provide to Azal Coffee. These include statements of gross sales, sales tax returns, income tax returns, monthly profit and loss statements, balance sheets, inventory statements, and annual financial statements. Franchisees must submit monthly reports within 15 days of the month's end and annual reports within 30 days of the fiscal year's end. Azal Coffee may also disclose a franchisee's financial records in future Franchise Disclosure Documents.

While the FDD outlines the financial reporting required from franchisees and mentions the possibility of disclosing franchisee financial data, it does not confirm whether the FDD itself includes Azal Coffee's statements of operations for the past three fiscal years. A prospective franchisee should directly ask Azal Coffee whether these statements are available and, if not, what alternative financial information is available to help evaluate the franchise's financial performance.