Does the Cilantro Taco Grill FDD include financial statements as of December 31, 2023?
Cilantro_Taco_Grill Franchise · 2024 FDDAnswer from 2024 FDD Document
CTG Franchise LLC has not been in business for 3 years, therefore we are not able to include the 3 prior years of audited financial statements normally required by this Item 21. Our audited financial statements as of December 31, 2023 and December 31, 2022 are included in Exhibit D.
Our fiscal year end is December 31.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2024 FDD)
According to the 2024 Cilantro Taco Grill FDD, the document includes audited financial statements as of December 31, 2023, and December 31, 2022. Because CTG Franchise LLC has not been in business for 3 years, the FDD does not include the 3 prior years of audited financial statements normally required. The financial statements are included in Exhibit D of the FDD.
These financial statements provide prospective franchisees with an overview of Cilantro Taco Grill's financial health and performance over the past two years. Reviewing these statements can help potential franchisees assess the company's revenue, expenses, assets, and liabilities. This information is crucial for making an informed decision about investing in a Cilantro Taco Grill franchise.
Furthermore, the notes to the financial statements, also included in the FDD, offer additional insights into the company's organization, accounting policies, and other relevant financial details. For example, the notes state that CTG Franchise, LLC was formed in December 2022 for the purpose of franchising its restaurants nationally in the United States. For the years ended December 31, 2023 and 2022, total contributions were $34,717 and $100,000, respectively, and there were no distributions in either year.