What fiscal years are covered in the GoTo Systems' financial statements included in the Carvel FDD?
Carvel Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached as Exhibit A to this Disclosure Document are the audited financial statements of GoTo Systems, our parent company, which include the consolidated balance sheets as of December 29, 2024 and December 31, 2023 and the related consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022. GoTo Systems guarantees the performance of our obligations under the Franchise Agreement. A copy of the guaranty of GoTo Systems is attached as Exhibit A.
As reflected in Item 1, GoTo Foods will be providing required support and services to franchisees under a management agreement with us. Attached as Exhibit A are the audited financial statements of GoTo Foods as of and for the fiscal years December 29, 2024 and December 31, 2023. These financial statements are being provided for disclosure purposes only. GoTo Foods is not a party to the Franchise Agreement or other agreement we sign with franchisees nor does it guarantee our obligations under the Franchise Agreement or other agreements we sign with franchisees.
Source: Item 21 — Financial Statements (FDD page 99)
What This Means (2025 FDD)
According to Carvel's 2025 Franchise Disclosure Document, the audited financial statements of GoTo Systems, the parent company, include consolidated balance sheets as of December 29, 2024, and December 31, 2023. The related consolidated statements of operations, changes in member's equity, and cash flows are provided for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022.
These financial statements offer prospective Carvel franchisees insight into the financial health and performance of GoTo Systems. By examining these statements, franchisees can assess the parent company's profitability, solvency, and overall financial stability. This information is crucial for evaluating the level of support and resources that GoTo Systems can provide to its franchisees.
It is important to note that GoTo Foods also has financial statements included in the 2025 FDD, but these are for disclosure purposes only. GoTo Foods is not a party to the Franchise Agreement and does not guarantee Carvel's obligations under the Franchise Agreement.