Are the financial statements for Cost Cutters Family Hair Salon audited or unaudited?

According to Cost Cutters Family Hair Salon's 2024 Franchise Disclosure Document, the financial statements of the parent company, Regis Corporation, are both audited and unaudited. The document includes unaudited interim Condensed Consolidated Financial Statements of Regis Corporation as of September 30, 2023, and for the three months ended September 30, 2023. It also includes audited Consolidated Financial Statements as of June 30, 2023, June 30, 2022, and June 30, 2021.

Since Regis Corporation guarantees Cost Cutters Family Hair Salon's obligations under the Franchise Agreement, its financial health is relevant to prospective franchisees. The inclusion of both audited and unaudited statements provides a more complete picture of the company's financial status over different periods.

It is standard practice for franchisors to include audited financial statements in their FDDs to provide transparency and build trust with potential franchisees. The audited statements offer a higher level of assurance due to the independent review by a certified public accountant. Franchisees should carefully review these financial statements and consider seeking professional financial advice to assess the financial stability of Regis Corporation and, by extension, Cost Cutters Family Hair Salon.