As of what date are the Carvel franchisee details provided in this list?

According to Carvel's 2025 Franchise Disclosure Document, the franchisee details are provided as of the issuance date of the document. The FDD states that the issuance date for this document is March 28, 2025. Therefore, any franchisee information contained within the exhibits, such as Exhibits D and E, is current as of this date.

Prospective franchisees should understand that the information contained in the FDD, including details about existing and former franchisees, is only current as of the issuance date. This means that any changes occurring after March 28, 2025, such as new franchisees joining the system or existing franchisees leaving, may not be reflected in the document.

It is important for potential Carvel franchisees to verify this information during their due diligence process. They should ask Carvel for the most up-to-date list of current franchisees and any recent changes in the franchise system to get a clear picture of the network's current state. This will help them make a more informed decision about investing in a Carvel franchise.