What is the name of the company whose financial statements are included for Chop5 Salad Kitchen?
Chop5_Salad_Kitchen Franchise · 2024 FDDAnswer from 2024 FDD Document
CHOP5 Franchise LLC ("the Company") was formed on March 22, 2019, (Inception) in the State of Kentucky as a limited liability company. The Company grants franchises to qualified persons for the establishment and operations of a CHOP5 Salad Kitchen restaurant featuring made-to-order salads, salad and grain bowls, soups, and other healthy food options under the CHOP5 name and mark (each a "CHOP5 Salad Kitchen"). All activities are conducted in a designated territory.
Parent and Affiliates
The Company is wholly owned by Chop5 LLC ("Parent") that was organized in the State of Kentucky as a limited liability company on February 18, 2016.
Chop5 Polaris LLC was organized in Ohio as a limited liability company on April 2, 2019. Chop5 Polaris LLC has owned and operated a CHOP5 Salad Kitchen.
CHOP5 IP LLC, was organized in Delaware as a limited liability company on April 10, 2019. CHOP5 IP LLC owns the Proprietary Marks and other intellectual property, which it has licensed to the Company so the Company may sub-license them to the Company's franchisees.
Chop5 Orlando UCF, LLC, was organized in Florida as a limited liability company on September 16, 2019. Chop5 Orlando UCF, LLC opened a Chop5 Salad Kitchen in March 2022.
Chop5 JV Boulder LLC was organized in Colorado as a limited liability company on March 15, 2019. Chop5 JV Boulder LLC opened a Chop5 Salad Kitchen in December 2021. This location closed on February 19, 2023.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 50)
What This Means (2024 FDD)
According to the 2024 Chop5 Salad Kitchen FDD, the financial statements included are for CHOP5 Franchise LLC. The FDD notes that CHOP5 Franchise LLC was formed in Kentucky on March 22, 2019, as a limited liability company. The company grants franchises to qualified individuals for the establishment and operation of Chop5 Salad Kitchen restaurants.
The FDD also mentions that CHOP5 Franchise LLC is wholly owned by Chop5 LLC, which was organized in Kentucky on February 18, 2016. Additionally, it lists other affiliates such as Chop5 Polaris LLC, CHOP5 IP LLC, Chop5 Orlando UCF, LLC, and Chop5 JV Boulder LLC. However, the financial statements specifically pertain to CHOP5 Franchise LLC, the entity offering the franchise opportunity.
It's important to note that the financial condition of the parent company, Chop5 LLC, or its other affiliates, is not reflected in the financial statements of CHOP5 Franchise LLC. A prospective franchisee should focus on the financial stability and performance of CHOP5 Franchise LLC when assessing the franchise opportunity.