For what fiscal years are the audited financial statements for Buff City Soap included?
Buff_City_Soap Franchise · 2025 FDDAnswer from 2025 FDD Document
s to the Financial Statements7−15 | |
Report of Independent Auditors
To the Management of Buff City Soap Franchising, LLC
Opinion
We have audited the accompanying financial statements of Buff City Soap Franchising, LLC (the "Company"), which comprise the balance sheets as of December 29, 2024 and December 31, 2023, and the related statements of operations, of member's deficit and of cash flows for the years then ended, including the related notes (collectively referred to as the "financial statements").
Source: Item 21 — Financial Statements (FDD page 69)
What This Means (2025 FDD)
According to the 2025 FDD, the audited financial statements for Buff City Soap Franchising, LLC include balance sheets as of December 29, 2024, and December 31, 2023. The statements of operations, member's deficit, and cash flows are for the years ended December 29, 2024, December 31, 2023, and January 1, 2023.
This means that prospective Buff City Soap franchisees can review the company's financial performance over the past three fiscal years to identify trends and assess financial stability. These statements provide insights into the company's assets, liabilities, revenues, expenses, and cash flow, which are crucial for evaluating the financial health of the franchisor.
The inclusion of three years of financial statements is a standard practice in franchising, allowing potential franchisees to gain a more comprehensive understanding of the franchisor's financial history. The FDD also mentions that the financial statements for the year ended January 1, 2023, were audited by other auditors, indicating a change in auditors during this period. This is something a franchisee might want to investigate further.
It is important for prospective franchisees to carefully review these audited financial statements and consult with a financial advisor to fully understand the implications before making any investment decisions. Understanding the franchisor's financial performance is a critical step in assessing the overall risk and potential return of investing in a Buff City Soap franchise.