Does Best Brains' FDD include audited financial statements, and if so, for which fiscal years?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit H contains our audited financial statements for the fiscal years ending December 31, 2024, 2023, and 2022, as well as our unaudited Balance Sheet as of March 31, 2025 and our unaudited Profit & Loss Statement for the time period January 1, 2025 – March 31, 2025.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the franchisor includes audited financial statements. Specifically, Exhibit H contains audited financial statements for the fiscal years ending December 31, 2024, December 31, 2023, and December 31, 2022.
In addition to the audited statements, Best Brains also provides an unaudited Balance Sheet as of March 31, 2025, and an unaudited Profit & Loss Statement for the period from January 1, 2025, to March 31, 2025. The FDD includes a disclaimer that these unaudited statements have not been reviewed by a Certified Public Accountant.
Prospective franchisees should carefully review these financial statements, paying close attention to Best Brains' revenue, expenses, assets, and liabilities. Analyzing these trends over the three-year period can provide insights into the company's financial stability and performance. It is important to note the distinction between audited and unaudited statements, as audited statements provide a higher level of assurance due to the independent review by a CPA.