Where can I find Buona's audited financial statements?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITORS' REPORT
To the Members Chicago's Original Italian Beef Franchising LLC Burr Ridge, Illinois 60527
Opinion
We have audited the accompanying financial statements of Chicago's Original Italian Beef Franchising LLC (the Company), which comprise the balance sheet as of December 29, 2024 and December 31, 2023, and the related statements of operations, changes in members' equity (deficit), and cash flows for the fiscal years ended December 29, 2024 and December 31, 2023, 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 Chicago's Original Italian Beef Franchising LLC as of December 29, 2024 and December 31, 2023, and the results of its operations and its cash flows for the fiscal years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the audited financial statements for Chicago's Original Italian Beef Franchising LLC can be found in Item 22, which covers contracts. Specifically, Item 22 includes an Independent Auditors' Report with an opinion on the financial statements.
The Independent Auditors' Report states that the audit was conducted in accordance with auditing standards generally accepted in the United States of America. The audit covers the balance sheet as of December 29, 2024, and December 31, 2023, along with the related statements of operations, changes in members' equity (deficit), and cash flows for the fiscal years ended December 29, 2024, and December 31, 2023, and the related notes to the financial statements.
This report assures prospective Buona franchisees that the company's financial statements have been examined by independent auditors and are presented fairly in accordance with accounting principles generally accepted in the United States of America. This provides a level of confidence in the financial health and stability of the franchisor, which is crucial for making an informed investment decision.