For what fiscal year is Card My Yard's parent's audited financial statements provided?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached as Exhibit E to this Disclosure Document are our audited financial statements for our fiscal years 2022 and 2023 and our parent's audited financial statements for fiscal year 2024. Our fiscal year ends on December 31.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 84)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the audited financial statements for Card My Yard's parent company, FS PEP Holdco, LLC, are included for the fiscal year 2024. The FDD also includes audited financial statements for the parent company for fiscal years 2022 and 2023. The fiscal year for Card My Yard ends on December 31.
It is standard practice for franchisors to include audited financial statements in their FDDs, as this gives potential franchisees insight into the financial stability and performance of the company they are considering investing in. These statements provide a detailed overview of the franchisor's assets, liabilities, equity, revenue, and expenses.
A prospective Card My Yard franchisee should carefully review these financial statements to assess the financial health of the parent company. Understanding the franchisor's financial position can help franchisees make informed decisions and evaluate the risks associated with investing in a Card My Yard franchise.