Does the Casiola FDD include financial statements for years prior to 2023?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
Attached as Exhibit D is our audited financial statements for 2023. We were established on January 6, 2023, and our fiscal year ends on December 31. Because we have not been franchising for three years or more, we do not have three years of audited financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 46–47)
What This Means (2024 FDD)
According to the 2024 Casiola Franchise Disclosure Document, Casiola's audited financial statements are provided for the year 2023. The FDD states that Casiola was established on January 6, 2023, and its fiscal year ends on December 31.
Because Casiola has not been franchising for three years or more, the FDD does not include three years of audited financial statements. This is a common situation for newer franchises, as they simply have not been in operation long enough to accumulate three years of financial data.
Prospective franchisees should be aware that the limited financial history may make it more challenging to fully assess the financial stability and performance of the franchise system. It is advisable to carefully review the provided financial statements for 2023, ask detailed questions about Casiola's performance, and conduct thorough due diligence before making any investment decisions.