What was the cash balance at the end of the year for Burros Fries?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
. El Cajon, CA 92020
ITEM 21 FINANCIAL STATEMENTS
Our certified, independent, audited financial statements for the period from January 1, 2021 to December 31, 2021, audited financial statements for the period from January 1, 2022 to December 31, 2022, and audited financial statements for the period from January 1, 2023 to December 31, 2023, and unaudited financials for the period of January 1, 2024 to October 31, 2024 are attached to this Disclosure Document as Exhibit G. Our fiscal year end is December 31. We have not been in business for three complete years or more and therefore cannot include all the financial statements required by the Rule for our last three fiscal years.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, the franchisor includes financial statements for the years 2021, 2022 and 2023. However, the provided excerpts do not include the actual cash balance figures for these years. The FDD does state that the financial statements have been audited by Prudhomme Associates CPAs for the years 2021-2023.
Item 21 of the Burros Fries FDD includes the financial statements, which are critical for prospective franchisees to review. These statements provide insights into the company's financial health, including assets, liabilities, equity, revenue, and expenses.
Without the specific cash balance figures, it's impossible to assess Burros Fries's liquidity and ability to meet its short-term obligations. A prospective franchisee should carefully examine the complete financial statements in the FDD and consult with a financial advisor to understand the franchisor's financial performance and stability.
It is important to note that the FDD also includes unaudited financials for the period of January 1, 2024 to October 31, 2024. However, these financials are intended for management use only.