Under what circumstances was franchisee data annualized for Cicis Buffet Restaurants in the Data Set?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
In the Tables below, we show, for the Data Set, certain average financial metrics on a monthly basis (Table 1) and for the full Measurement Period (Table 2). To calculate the averages, we added the particular data point for each Cicis Buffet Restaurant in the Data Set, then divided that number by 240. The "median" is the middle date point in the Data Set for the particular item. For 37 Cicis Buffet Restaurants in the Data Set, where data was missing, we annualized the franchisee's information by multiplying the average monthly value of the available data by 12. Otherwise, we have calculated the results shown in the Tables below based entirely on the information provided to us by the applicable franchisees. We have not independently verified the information, but we have no reason to believe what the franchisees reported to us is not correct.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 53–58)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the financial data from some franchisees was annualized to create the financial performance representation. The data set used to generate the financial performance representations includes information from 240 franchised Cicis Buffet Restaurants. To calculate average financial metrics, Cicis added the data points for each restaurant in the data set and divided that number by 240.
However, for 37 Cicis Buffet Restaurants within this data set, some data was missing. To compensate for these gaps, Cicis annualized the available data. This was done by calculating the average monthly value from the data they did have for those 37 restaurants and then multiplying that average monthly value by 12 to estimate a full year's worth of data.
This practice of annualizing data is intended to provide a more complete picture of potential financial performance, but prospective franchisees should be aware that it involves estimations based on incomplete information. Cicis states that they have no reason to believe the franchisee-reported information is incorrect, but they did not independently verify the information.