As of what date were the financial statements for Closet Storage Concepts audited?

According to Closet Storage Concepts' 2025 Franchise Disclosure Document, the company includes audited financial statements for the fiscal years ending December 31, 2024, December 31, 2023, and December 31, 2022. This indicates that the financial statements for each of these years were audited as of December 31st of that respective year.

Closet Storage Concepts provides these audited financial statements as Exhibit "E" to the FDD. This exhibit is crucial for potential franchisees as it offers a detailed look into the company's financial health over the past three years. Reviewing these statements can help a prospective franchisee assess the stability and profitability of Closet Storage Concepts.

The inclusion of audited financial statements is a standard practice in franchising, ensuring transparency and providing potential franchisees with reliable financial information. The independent auditor's report included with the financial statements confirms that the statements present fairly the financial position of Closets Unlimited of New Jersey, Inc., which operates as Closet Storage Concepts, in accordance with generally accepted accounting principles.

Prospective franchisees should carefully examine these audited financial statements and consult with a financial advisor to fully understand the financial implications of investing in a Closet Storage Concepts franchise. Understanding the franchisor's financial performance is a critical step in the due diligence process.