What is the specific date of the financial statements provided for the Chatime franchise?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying financial statements of Chatime Franchise LLC (a limited liability company) which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and member's equity (deficit) and cash flows for the years then ended, 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 Chatime Franchise LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — Financial Statements (FDD page 58)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, the financial statements included are for the years ended December 31, 2024, and December 31, 2023. These statements include balance sheets, statements of operations, member's equity (deficit), and cash flows, along with related notes. An independent auditor, Citrin Cooperman, audited these financial statements.
The auditor's report expresses an opinion that the financial statements present fairly the financial position of Chatime Franchise LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Prospective franchisees should review these financial statements carefully to understand Chatime's financial performance and stability. Key areas to examine include revenue trends, expenses, assets, liabilities, and cash flow. Understanding these financial statements is crucial for assessing the financial health of the franchisor and making an informed investment decision.