Are the financial statements for Chop5 Salad Kitchen presented on a calendar year basis?
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 the 2024 Chop5 Salad Kitchen Franchise Disclosure Document, the company's fiscal year concludes on December 31st. The audited financial statements for Chop5 Salad Kitchen, spanning the fiscal years ending December 31, 2023, December 31, 2022, and December 31, 2021, are included as EXHIBIT "G" within the Disclosure Document.
This indicates that Chop5 Salad Kitchen operates on a calendar year basis for its financial reporting. A calendar fiscal year is a common practice, as it aligns with the standard January 1 to December 31 timeframe.
Prospective franchisees can review these financial statements to gain insights into the financial performance of Chop5 Salad Kitchen over the past three years. Understanding the franchisor's financial stability is crucial for making an informed investment decision.