If the Churchs Chicken financial statements were not audited, would they still be included in Exhibit K?
Churchs_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this Franchise Disclosure Document as Exhibit K are our audited financial statements as of and for the years ended December 29, 2024, December 31, 2023, and December 25, 2022.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 67)
What This Means (2025 FDD)
According to Churchs Chicken's 2025 Franchise Disclosure Document, Exhibit K contains the company's financial statements. Specifically, the document states that the financial statements included in Exhibit K are audited. These statements cover the years ending December 29, 2024, December 31, 2023, and December 25, 2022.
Because the FDD explicitly states that the financial statements in Exhibit K are audited, it implies that unaudited statements would not be included in that exhibit. The purpose of including audited financial statements is to provide potential franchisees with a verified and reliable view of the franchisor's financial health.
If a prospective franchisee is interested in reviewing unaudited financial statements, they should directly ask Churchs Chicken for this information. While not part of the FDD, the franchisor may be willing to provide additional financial details to serious candidates.