What is the name of the exhibit containing the audited financial statements for Beef O Bradys and Holdco?
Beef_O_Bradys Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached as Exhibit A are (1) our audited financial statements as of December 31, 2024, December 31, 2023 and December 31, 2022, and (2) the audited financial statements of Holdco as of December 31, 2024, December 31, 2023, and December 31, 2022. Our fiscal year end is December 31.
Holdco absolutely and unconditionally guarantees to assume our duties and obligations under the Franchise Agreement should we become unable to perform our duties and obligations under the Franchise Agreement. Holdco's guaranty of performance is included in Exhibit A of this Disclosure Document.
Source: Item 21 — FINANCIAL STATEMENTS. (FDD pages 65–66)
What This Means (2025 FDD)
According to Beef O Bradys's 2025 Franchise Disclosure Document, the audited financial statements for both Beef O Bradys and Holdco are included in Exhibit A. This exhibit contains the audited financial statements as of December 31, 2024, December 31, 2023, and December 31, 2022, for both entities.
It is standard practice for franchisors to include audited financial statements in their FDDs, as this provides potential franchisees with an overview of the franchisor's financial health. These statements are prepared by independent auditors and offer insight into the company's assets, liabilities, equity, revenue, and expenses.
Furthermore, Holdco's guaranty of performance, which ensures that Holdco will assume Beef O Bradys's obligations under the Franchise Agreement if Beef O Bradys is unable to perform them, is also included in Exhibit A. This guarantee can provide additional security and reassurance to prospective franchisees, knowing that there is a backup entity committed to fulfilling the franchise agreement.