What is the name of the company providing the financial statements for Cilantro Taco Grill?
Cilantro_Taco_Grill Franchise · 2024 FDDAnswer from 2024 FDD Document
CTG Franchise LLC ("Franchisor") and ("Franchisee", "we") are parties to a certain Franchise Agreement dated for the operation of a "Cilantro Taco Grill" Restaurant ("Franchise Agreement").
We hereby acknowledge that we became a franchisee of Franchisor on pursuant to the above referenced Franchise Agreement of same date.
This request for financial information is made on , which is at least ninety (90) days after the date we executed said Franchise and financial modeling information relative to Cilantro Taco Grill Agreement, and we are now requesting the assistance of the Franchisor by supplying us with financial information such financial information to Franchisee, and Franchisee represents and warrants the following facts: Restaurants.
Franchisor agrees to release any 1. except as may be included in Item 19 of the FDD received by Franchisee.
Franchisee acknowledges and understands the Federal Trade Commission prohibits franchisors from supplying prospecting franchisees any financial information whatsoever unless that information is already disclosed in the Franchise Disclosure Document ("FDD") and Franchisee acknowledges that no individual, corporate officer or member of the management teams for Fransmart, LLC and/or Franchisor has ever provided any financial information whatsoever prior to Franchisee becoming a franchisee of Franchisor, 2. prior to any such disclosure and Franchisee agrees to a full release and hold harmless of financial information Franchisee receives from Franchisor pursuant to this request.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2024 FDD)
According to the 2024 Cilantro Taco Grill FDD, the franchisor, CTG Franchise LLC, may provide financial information to prospective franchisees under specific conditions. Item 23 outlines a process where a franchisee can request financial information from CTG Franchise LLC at least 90 days after executing the Franchise Agreement.
However, the FDD stipulates that any financial information provided by CTG Franchise LLC is not a guarantee or projection of future performance. Franchisees must acknowledge that the data is for informational purposes only and cannot be used as a basis for legal action against the franchisor. This protects CTG Franchise LLC from liability based on the financial information shared.
Item 19 of the FDD also mentions that Cilantro Taco Grill has 13 outlets owned and operated by its affiliates, and financial representations for these outlets are included for the fiscal year ending December 31, 2023. This suggests that the financial performance of these affiliate-owned restaurants may be part of the financial information provided, giving potential franchisees some insight into the brand's performance. Therefore, CTG Franchise LLC is the company that would provide financial statements, potentially including data from its affiliated outlets.
It is important for prospective franchisees to carefully review Item 19 and any financial information provided by CTG Franchise LLC, understanding the limitations and disclaimers associated with it. Consulting with a financial advisor is recommended to properly assess the potential financial performance of a Cilantro Taco Grill franchise.