Where can I find the audited opening balance sheet for Chocolate Fish Coffee?

The 2024 Franchise Disclosure Document for Chocolate Fish Coffee does not specify a location where an audited opening balance sheet can be found. However, it does state that franchisees must submit an initial investment report to Chocolate Fish Franchising within 120 days after opening. This report should detail the franchisee's investment costs to develop and open the business, allocating costs to categories described in Item 7 of the FDD.

Furthermore, Chocolate Fish Coffee franchisees are required to provide various financial reports to the franchisor. These include monthly profit and loss statements and balance sheets within 30 days after each month's end, and an annual financial statement (including profit and loss statement, cash flow statement, and balance sheet) within 90 days after the end of Chocolate Fish Franchising's fiscal year.

While the FDD outlines the financial reporting obligations of the franchisee, it does not mention the existence of an audited opening balance sheet. Prospective franchisees should directly ask Chocolate Fish Coffee whether an audited opening balance sheet is available for review, and if so, how they can access it during their due diligence process.