Does the Bonchon Disclosure Document include audited balance sheets as of December 31, 2023?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
ise Advisory Council, there are no trademark-specific franchisee organizations associated with the franchise system.
ITEM 21 FINANCIAL STATEMENTS
We were organized in June 2011. Our fiscal year end is December 31st. Attached to this Disclosure Document as Exhibit C are our audited balance sheets as of December 31, 2024, 2023 and 2022, and the related st
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the document includes audited balance sheets as of December 31, 2023. Specifically, Item 21 states that the disclosure document includes Bonchon's audited balance sheets as of December 31, 2024, 2023, and 2022. These financial statements are attached as Exhibit C to the Disclosure Document.
These audited financial statements provide prospective franchisees with an overview of Bonchon's financial health over the past three years. Reviewing these statements can help potential franchisees assess the company's profitability, assets, liabilities, and overall financial stability. This information is crucial for making an informed investment decision.
The inclusion of audited financial statements is a standard practice in franchising, as it provides a level of assurance regarding the accuracy and reliability of the financial information presented. The independent auditor's report included with the financial statements confirms that the audit was conducted in accordance with generally accepted auditing standards and that the financial statements present fairly the financial position of Bonchon.