Does the Caring Senior Service Disclosure Document include financial statements?

Yes, the 2025 Caring Senior Service Franchise Disclosure Document includes audited financial statements. Specifically, the document contains balance sheets as of December 31, 2024, 2023, and 2022, along with related statements of operations, changes in partners' capital, and cash flows for those years. These financial statements provide prospective franchisees with an overview of Caring Senior Service's financial health over the past three years.

Additionally, the FDD includes notes to the financial statements as of December 31, 2024, 2023, and 2022. These notes offer further details and explanations of the figures presented in the financial statements, giving potential franchisees a more comprehensive understanding of the franchisor's financial position. One specific note details the long-term debt of Caring Senior Service, including a vehicle loan and a loan from the U.S. Small Business Administration (SBA).

The vehicle was purchased on August 12, 2019, through a loan from Security Services Federal Credit Union for $48,223, with monthly payments of $769 including interest at 4.60%. The balances due on this loan were $6,007, $14,351, and $23,083 as of December 31, 2024, 2023, and 2022, respectively. The SBA loan, received on November 20, 2021, totaled $500,000, with monthly payments of $2,575 including interest at 3.75%, beginning May 23, 2024. The balance due on the SBA loan was $500,000 as of December 31, 2024, with accrued interest of $37,212 ($30,900 current portion).

This level of financial disclosure is typical in franchise disclosure documents, as it allows potential franchisees to assess the financial stability and performance of the franchisor before making a significant investment. Reviewing these statements and notes is a crucial step in the due diligence process for anyone considering purchasing a Caring Senior Service franchise.