As of the date of this FDD, how many years of financial statements are provided for Chop5 Salad Kitchen?
Chop5_Salad_Kitchen Franchise · 2024 FDDAnswer from 2024 FDD Document
Our fiscal year ends on December 31st. Audited financial statements of CHOP5 Franchise LLC for the fiscal years ended December 31, 2023, December 31, 2022, and December 31, 2021 are attached to this Disclosure Document as EXHIBIT "G".
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 50)
What This Means (2024 FDD)
According to Chop5 Salad Kitchen's 2024 Franchise Disclosure Document, the company provides audited financial statements for the fiscal years ended December 31, 2023, December 31, 2022, and December 31, 2021. This means the FDD includes three years of financial statements.
These financial statements are attached as EXHIBIT "G" to the FDD, allowing prospective franchisees to review Chop5 Salad Kitchen's financial performance over the past three years. This information is crucial for evaluating the financial stability and overall health of the franchise system.
By providing three years of audited financial statements, Chop5 Salad Kitchen is adhering to standard franchise industry practice, which requires franchisors to disclose their financial performance to potential franchisees. Reviewing these statements is a critical step in the due diligence process for anyone considering investing in a Chop5 Salad Kitchen franchise.