Do the Crave financial statements include a balance sheet?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying financial statements of Crave Franchising, LLC, (the Company), a Wyoming limited liability company, which comprise Balance sheet as of December 31, 2024, 2023, and 2022, and the related statement of operations and member's equity and cash flows for the year ended December 31, 2024, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the year ended December 31, 2024, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 62)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the financial statements include a balance sheet. The financial statements audited by an independent auditor include a balance sheet as of December 31, 2024, 2023, and 2022. The audit also incorporates the statement of operations and member's equity and cash flows for the year ended December 31, 2024, along with related notes.
The inclusion of a balance sheet in Crave's financial statements is a standard practice, providing a snapshot of the company's assets, liabilities, and equity at a specific point in time. This allows potential franchisees and other stakeholders to assess the company's financial health and stability. The balance sheets for multiple years (2022, 2023, and 2024) allow for trend analysis.
The independent audit opinion further enhances the reliability of these financial statements. The auditor's opinion confirms that the financial statements present fairly the financial position of Crave in accordance with accounting principles generally accepted in the United States of America. This provides assurance to prospective franchisees regarding the accuracy and completeness of the financial information presented in the FDD.