What was the total loss from operations for Card My Yard in 2024?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
ldco, LLC in exchange for equity interests in FS PEP Holdco, LLC. The sellers can earn additional cash consideration up to $5,605,000 if certain sales metrics are met within the 36-month period after closing.
FS PEP HOLDCO, LLC and SUBSIDIARIES
Consolidated Financial Statements As of December 31, 2024 and 2023 and For the Years Then Ended
Together with Independent Auditors' Report
Independent Auditors' Report
To the Board of Managers of FS PEP Holdco, LLC
Opinion
We have audited the accompanying consolidated financial statements of FS PEP Holdco, LLC and subsidiaries (collectively,the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to consolidated financialstatements.
Inour opinion,the consolidated financialstatementsreferred toabove presentfairly,in allmaterialrespects, the financial position of FSPEP Holdco, LLC and subsidiaries as of December 31, 2024 and 2023, and the results oftheir operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the UnitedStates of America.
Due to the March 2024 acquisition of an entity under common control, CMY Holdco, LLC (Note 2), the historical activity prior to the acquisition of CMY Holdco, LLC and its wholly-owned subsidiary, Card my Yard Franchising, LLC, have been retrospectively combined in the consolidated financial statements of the Company.
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the consolidated financial statements of FS PEP Holdco, LLC and subsidiaries, which include Card My Yard Franchising, LLC, were audited for the years 2023 and 2024. The audit firm's opinion is that the financial statements fairly represent the financial position of FS PEP Holdco, LLC and its subsidiaries as of December 31, 2024, and 2023.
The document indicates that the historical activity of CMY Holdco, LLC and its subsidiary, Card My Yard Franchising, LLC, have been retrospectively combined in the consolidated financial statements due to the March 2024 acquisition of CMY Holdco, LLC. The 2023 financial statements of Card My Yard Franchising, LLC, which reflect total assets of $10,040,671 and total revenues of $3,521,565, were audited by other auditors.
While the auditor's report confirms the fair presentation of the company's financials, it does not explicitly state the total loss from operations for Card My Yard in 2024. A prospective franchisee would need to review the full audited financial statements or request this specific information from the franchisor to fully understand the company's profitability.