Does the Bonchon Disclosure Document include audited balance sheets as of December 31, 2024?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
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 statements of income and changes in member's equity (deficit) and cashflows for the years ended December 31, 2024, December 31, 2023 and December 31, 2022.
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. Specifically, Exhibit C to the Disclosure Document contains Bonchon's financial statements for the years ended December 31, 2024, 2023, and 2022.
Item 21 of the FDD, which covers financial statements, confirms that the audited balance sheets as of December 31, 2024, 2023 and 2022, along with related statements of income, changes in member's equity (deficit), and cashflows for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 are attached as Exhibit C.
These audited financial statements provide prospective franchisees with an overview of Bonchon's financial health and performance over the past three years. Reviewing these statements, including the balance sheets, income statements, and cash flow statements, can help potential franchisees assess the financial stability and profitability of Bonchon before making an investment.