For Casiola, what period do the financial statements cover?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Casiola Franchise, LLC (the "Company"), which comprise the balance sheet as of December 31, 2023 and the related statements of operations, members' equity (deficit), and cash flows for the period from January 6, 2023 to December 31, 2023 and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Casiola Franchise, LLC as of December 31, 2023 and the results of its operations and its cash flows for the period from January 6, 2023 to December 31, 2023 in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 46–47)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, the financial statements cover the period from January 6, 2023, to December 31, 2023. This means the provided financial information reflects Casiola's financial performance and position for its first year of operations, starting from the company's formation date.
For a prospective franchisee, this is a crucial period to examine, as it represents the initial establishment and operation of the franchise system. Understanding the revenues, expenses, and overall financial health during this period can provide insights into the potential challenges and opportunities a new Casiola franchisee might encounter.
Specifically, the financial statements include a balance sheet as of December 31, 2023, along with statements of operations, members' equity (deficit), and cash flows for the period from January 6, 2023, to December 31, 2023. Reviewing these statements will help potential franchisees assess the company's financial stability and performance during its early stages. Additionally, the auditor's report indicates that the financial statements are presented fairly in accordance with generally accepted accounting principles in the United States of America.