What organization declared COVID-19 a global pandemic, as mentioned in the Carbones Pizzeria FDD?

According to the 2025 Carbones Pizzeria Franchise Disclosure Document, the World Health Organization (WHO) declared the novel strain of coronavirus (COVID-19) a global pandemic on March 11, 2020. The FDD emphasizes that the ultimate financial impact and duration of the COVID-19 pandemic could not be reasonably estimated at the time the financial statements were issued. This statement is part of the Independent Auditor's Report and is also included in the notes to the consolidated financial statements.

For a prospective Carbones Pizzeria franchisee, this information highlights the uncertainty and potential financial risks associated with events like the COVID-19 pandemic. While the declaration was made in 2020, its impact on businesses, including franchises, can persist for an unknown duration. The FDD acknowledges this uncertainty, suggesting that franchisees should be aware of potential disruptions and financial impacts that could arise from such global events.

The inclusion of this information in the financial statements indicates that the auditors considered the pandemic a significant factor that could affect the company's financial performance. It serves as a reminder that external events can have a substantial impact on the franchise's operations and profitability. Prospective franchisees should consider these types of risks when evaluating the franchise opportunity and developing their business plans.

Given that the COVID-19 pandemic's effects are still evolving, potential franchisees should inquire about Carbones Pizzeria's strategies for managing and mitigating risks associated with similar events. Understanding the franchisor's plans for supporting franchisees during crises can be a crucial factor in making an informed investment decision.