For what period does Chocolate Bash provide audited financial statements?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
We have not been in business for three years or more, and therefore cannot include all financial statements required by the Franchise Rule of the Federal Trade Commission. Exhibit D contains our audited financial statements from 12/31/2023, 12/31/2022 and 12/31/2021. Our fiscal year end is December 31.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the company includes audited financial statements for the years ending December 31, 2023, December 31, 2022, and December 31, 2021. These statements include the Balance Sheet, Profit & Loss Statements, Statements of Cashflows, and Statements of Shareholders' Equity, along with related notes, for each of these twelve-month periods.
Because Chocolate Bash has not been in business for three years or more, they state that they cannot include all financial statements typically required by the Franchise Rule of the Federal Trade Commission. However, they do provide the aforementioned audited financial statements as Exhibit D.
Prospective franchisees should carefully review these financial statements and notes to understand Chocolate Bash's financial performance, assets, liabilities, and cash flows over the past three years. This information can help in assessing the financial stability and potential risks associated with investing in a Chocolate Bash franchise. It is also advisable to consult with a financial advisor to fully understand the implications of these statements.