What is the definition of 'Calendar Year' according to the Casiola FDD?

According to Casiola's 2024 Franchise Disclosure Document, a 'Calendar Year' is defined as the 12-month period that starts on January 1 and ends on December 31. This definition is important for understanding the financial performance data presented in Item 19 of the FDD, as the data is organized and reported on a calendar year basis.

For a prospective Casiola franchisee, understanding this definition is crucial because the financial performance representations, such as those for the Orlando 1, 2, and 3 territories, are presented based on these calendar year periods. For example, the data provided for 2022 and 2023 Calendar Years allows potential franchisees to assess the performance of company-owned outlets over these specific 12-month intervals.

The use of a standard calendar year provides a consistent and easily understandable timeframe for evaluating financial data. This allows franchisees to compare year-over-year performance and assess trends in revenue, expenses, and other key financial metrics. This standardization is common in franchise disclosures, ensuring that all franchisees are evaluating performance using the same consistent periods.

Therefore, when reviewing the financial performance data in Item 19, franchisees should keep in mind that all figures and metrics are calculated based on the period from January 1 to December 31 of each year. This ensures accurate interpretation and comparison of the financial information provided by Casiola.