Are City Publications' audited financial statements included in the FDD?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
I have received a disclosure document dated April 20, 2025. This disclosure document included the following exhibits:
- a. List of state administrators
- b. List of state agents for service of process
- c. Franchise agreement
- d. Table of contents of operating manual
- e. Financial statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2025 FDD)
Yes, according to City Publications' 2025 Franchise Disclosure Document, audited financial statements are included. Item 23, the Receipt, confirms that Exhibit E to the disclosure document contains the financial statements for City Publications Franchise Group, Inc. The financial report as of December 31, 2024, is included, along with a table of contents for the financial statements.
The inclusion of audited financial statements is a standard practice in franchising, allowing prospective franchisees to review the financial health and stability of City Publications. These statements include balance sheets, statements of operations, and cash flows, providing a comprehensive view of the company's financial performance.
The Independent Auditor's Report states that the financial statements of City Publications Franchise Group, Inc. as of December 31, 2024, and 2023, and the related statements of operations, shareholders' (deficit), and cash flows for the years ended December 31, 2024, and 2023, present fairly, in all material respects, the financial position of the company in accordance with accounting principles generally accepted in the United States of America. Additionally, the financial statements for the year ended December 31, 2022, were audited by another auditor who expressed an unmodified opinion on those statements on March 15, 2023. This information is crucial for potential franchisees to assess the financial standing of City Publications before making an investment decision.