Does the Browns Chicken financial statement include consolidated statements of operations for the years ended December 31, 2023 and 2022?
Browns_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITORS' REPORT
To Management Brown's Chicken, LLC Villa Park, Illinois
Opinion
We have audited the accompanying financial statements of Brown's Chicken, LLC which comprise the consolidated balance sheets as of December 31, 2023 and 2022, and the related consolidated statements of operations, changes in members' equity, and cash flows for the years then ended and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Brown's Chicken, LLC as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Browns Chicken's 2025 Franchise Disclosure Document, the financial statements include consolidated statements of operations for the years ended December 31, 2023 and 2022. The document contains the consolidated balance sheets as of December 31, 2023 and 2022, and the related consolidated statements of operations, changes in members' equity, and cash flows for the years then ended, along with related notes. These statements are audited by an independent auditor.
These consolidated statements offer prospective Browns Chicken franchisees an overview of the company's financial performance and position over the stated two-year period. A franchisee can review Browns Chicken's revenues, expenses, and profitability trends. The balance sheets provide a snapshot of the company's assets, liabilities, and equity, while the cash flow statements illustrate how Browns Chicken generated and used cash during those years.
The inclusion of an independent auditor's report indicates that a qualified third party has examined Browns Chicken's financial statements and expressed an opinion on their fairness and reliability. This audit adds credibility to the financial information presented and can provide franchisees with greater confidence in the accuracy of the data.
In addition to the audited financial statements for 2023 and 2022, Browns Chicken also includes unaudited financial statements. Specifically, the FDD includes Browns Chicken's unaudited balance sheet as of March 30, 2025, and its Statement of Operations for the 2 months ended on March 30, 2025.