Are the Crave financial statements for the three most recent fiscal years?

According to Crave's 2025 Franchise Disclosure Document, the financial statements included as Exhibit A are audited and cover the three most recent fiscal years. Specifically, the financial statements are for the fiscal years ended December 31, 2024, December 31, 2023, and December 31, 2022. The FDD also states that Crave's fiscal year ends on December 31st.

Having three years of audited financial statements is a standard practice in franchising. This allows prospective franchisees to review the financial performance and stability of Crave over a reasonable period. Audited statements provide a higher level of assurance compared to unaudited statements, as they have been reviewed by an independent accounting firm.

As a prospective franchisee, reviewing these financial statements is crucial. It will allow you to assess Crave's revenue trends, profitability, and overall financial health. Pay close attention to any notes or qualifications in the audit report, as these may highlight potential risks or areas of concern. You should also compare Crave's financial performance to other franchises in the food and beverage industry to benchmark its performance.

In addition to reviewing the financial statements, it is advisable to consult with a financial advisor or accountant. They can help you interpret the statements and assess the financial risks and opportunities associated with investing in a Crave franchise. Understanding Crave's financial position is a key step in making an informed decision about whether to invest in the franchise.