Do the Crave Cookies financial statements include information about Crave Cookies' executive compensation?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Accountants' Audit Report
Crave Cookies Franchising, LLC Holladay, Utah
To the Members of Crave Cookies Franchising, LLC:
Opinion
We have audited the financial statements of Crave Cookies Franchising, LLC, which comprise the balance sheet as of December 31, 2024, and the related statements of income, members' equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Crave Cookies Franchising, LLC as of December 31, 2024 and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Crave Cookies Franchising, LLC, and to meet our other ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the provided excerpts of Crave Cookies' financial statements do not contain specific details regarding executive compensation. While the financial statements and accompanying notes detail various aspects of the company's financial health, such as assets, liabilities, revenues, expenses, accounting policies, and audit reports, there is no mention of salaries, bonuses, or other forms of compensation paid to the company's executives.
Item 21 includes the balance sheets, income statements, statements of cash flow, and notes on accounting policies, leases, and potential risks. The audit reports from Mellor and Associates, PLLC and Forvis, assure the accuracy and fairness of the financial statements. However, these reports focus on the overall financial position of Crave Cookies and do not delve into the specifics of executive pay.
A prospective franchisee would need to seek additional information from Crave Cookies to understand how its executives are compensated. Understanding the compensation structure could provide insights into the company's management philosophy and how it incentivizes its leadership team. This information is typically not included in standard financial statements but can be a relevant factor for franchisees assessing the overall stability and management practices of the franchise system.
To gain clarity on this matter, a potential franchisee should directly ask Crave Cookies about its executive compensation policies and request any available documentation that outlines these details. This inquiry can be part of a broader due diligence process to evaluate the franchise opportunity thoroughly.