Why doesn't Bang Cookies have three years of audited financial statements?

According to Bang Cookies' 2024 Franchise Disclosure Document, the company does not have three years of audited financial statements because it has not been franchising for three years or more. The FDD states that Bang Cookies was established on January 19, 2023, and its fiscal year ends on December 31.

This is a common situation for newer franchises. Established franchises typically include three years of audited financial statements to provide potential franchisees with a more comprehensive financial history. The audited financial statements offer insights into the franchisor's financial stability and performance.

For a prospective Bang Cookies franchisee, this means there is a limited financial track record available in the FDD. While the provided financial statements offer a snapshot of the company's performance since its inception, they do not provide the long-term trend data that three years of statements would offer. It would be prudent for a potential franchisee to conduct thorough due diligence, including seeking additional financial information and expert advice, to assess the financial viability of the franchise opportunity.