What years are covered by the audited financial statements of Holdco related to Beef O Bradys?
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 of Holdco, which guarantees Beef O Bradys's obligations, cover three fiscal years. Specifically, the FDD includes Holdco's audited financial statements as of December 31, 2024, December 31, 2023, and December 31, 2022.
As a prospective franchisee, it is crucial to review these financial statements to assess the financial health and stability of Holdco. Since Holdco guarantees Beef O Bradys's obligations under the Franchise Agreement, its financial strength directly impacts the security of the franchise system.
By examining these statements, a potential franchisee can evaluate Holdco's assets, liabilities, equity, revenue, and expenses over the three-year period. This historical data provides insights into Holdco's ability to support Beef O Bradys and fulfill its obligations to franchisees. Understanding Holdco's financial performance is an essential part of due diligence before investing in a Beef O Bradys franchise.
It is also important to note that the fiscal year end for Beef O Bradys and Holdco is December 31. This alignment simplifies the comparison and analysis of their financial performance.