What exhibit contains the financial statements for Cost Cutters Family Hair Salon?
Cost_Cutters_Family_Hair_Salon Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 21: FINANCIAL STATEMENTS]
ITEM 21 FINANCIAL STATEMENTS
Attached as Exhibit C are the unaudited interim Condensed Consolidated Financial Statements of Regis Corporation, the parent company of The Barbers, Hairstyling for Men & Women, Inc. ("Cost Cutters"), as of September 30, 2023 and for the three months ended September 30, 2023 and audited Consolidated Financial Statements as of June 30, 2023, June 30, 2022, and June 30, 2021. Regis Corporation absolutely and unconditionally guarantees our obligations under the Franchise Agreement. See Exhibit C for a copy of the guarantee.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 76)
What This Means (2024 FDD)
According to the 2024 Cost Cutters Family Hair Salon Franchise Disclosure Document, the unaudited interim Condensed Consolidated Financial Statements of Regis Corporation, the parent company of The Barbers, Hairstyling for Men & Women, Inc. ("Cost Cutters"), as of September 30, 2023, and for the three months ended September 30, 2023, and audited Consolidated Financial Statements as of June 30, 2023, June 30, 2022, and June 30, 2021 are attached as Exhibit C.
Because Regis Corporation, the parent company, guarantees Cost Cutter Family Hair Salon's obligations under the Franchise Agreement, their financial statements are provided. A copy of the guarantee is also available in Exhibit C.
Prospective franchisees should carefully review Exhibit C, with the help of a financial advisor, to understand the financial health and stability of Regis Corporation, as this directly impacts Cost Cutters Family Hair Salon's ability to support its franchisees and meet its obligations. Understanding the parent company's financial performance is crucial in assessing the overall risk and potential success of investing in a Cost Cutters Family Hair Salon franchise.