What is the reason Casiola does not have three years of audited financial statements?
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 Casiola's 2024 Franchise Disclosure Document, the reason they do not have three years of audited financial statements is due to the fact that they have not been franchising for three years or more. Casiola was established on January 6, 2023, and their fiscal year ends on December 31.
This is a common situation for newer franchises. Established franchises typically provide three years of financial statements to give potential franchisees a longer-term view of the franchise's financial health.
Since Casiola is relatively new, prospective franchisees should pay close attention to the single year of financial data provided. They should also ask detailed questions about Casiola's financial projections, growth strategy, and the performance of company-owned locations to gain a better understanding of the potential risks and rewards of investing in this franchise.