For what period ending dates are the audited financial statements provided for Cinch I.T.?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
Our audited financial statement for the period ending December 31, 2023, December 31, 2022 and December 31, 2021 is attached as Exhibit B. Our fiscal year ends December 31st . We were formed on January 2, 2019.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 60)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the audited financial statements included are for the periods ending December 31, 2023, December 31, 2022, and December 31, 2021. The FDD also states that Cinch I.T.'s fiscal year ends on December 31st.
This information is crucial for prospective franchisees as it provides a look into the financial health and performance of Cinch I.T. over the past three years. Reviewing these statements can help potential franchisees assess the franchisor's profitability, stability, and overall financial condition.
Understanding the financial performance of the franchisor is a key part of due diligence before investing in a franchise. These statements can reveal trends, strengths, and weaknesses that may influence a franchisee's decision. It is common practice for franchisors to include several years of financial statements to provide a comprehensive view of their financial history.