Are the Crave financial statements consolidated?

According to Crave's 2025 Franchise Disclosure Document, the financial statements provided are for Crave Franchising, LLC, a single entity, and are not consolidated. The report of independent auditors specifically mentions that they have audited the accompanying financial statements of Crave Franchising, LLC, a Wyoming limited liability company. The financial statements include the balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of operations, member's equity, and cash flows for the year ended December 31, 2024.

This means that the financial information presented reflects only the performance and position of Crave Franchising, LLC, and does not include the combined results of any subsidiaries or affiliated companies. A prospective franchisee should be aware that these statements provide insight into the franchisor's financial health as a standalone entity.

Understanding that the financial statements are not consolidated is crucial for assessing the overall financial stability and performance of Crave. If Crave had subsidiaries or related entities, consolidated statements would provide a more comprehensive view of the entire organization's financial situation. Since these are not consolidated, the franchisee should consider requesting additional information about any related entities to gain a more complete understanding of the Crave's financial structure.