Why doesn't Casiola have three years of audited financial statements in the FDD?

According to Casiola's 2024 Franchise Disclosure Document, the company does not have three years of audited financial statements because it was established on January 6, 2023, and its fiscal year ends on December 31. Since Casiola has not been franchising for three years or more, it does not meet the requirement to provide three years of audited financial statements. The attached financial statements as Exhibit D are audited for 2023.

This is a common situation for newer franchises. Established franchises typically include three years of financial statements to provide a more comprehensive financial history for potential franchisees. The single year of financial data may limit a prospective franchisee's ability to analyze long-term trends and financial stability.

Given the limited financial history, a prospective Casiola franchisee should carefully review the provided financial statements, conduct thorough due diligence, and consider consulting with a financial advisor to assess the potential risks and opportunities associated with investing in this franchise. It would be prudent to ask Casiola for any available internal financial projections or performance data to supplement the audited statements.