Do the Crave Cookies financial statements include a schedule of franchise terminations?

Based on the 2025 Crave Cookies Franchise Disclosure Document excerpts provided, there is no explicit mention of a schedule of franchise terminations within the financial statements or accompanying notes. The excerpts focus on the independent auditor's report, the company's financial statements, accounting policies, and notes related to those statements. These notes cover areas such as the nature of operations, accounting methods, receivables, inventory, related-party transactions, prepaid expenses, and operating leases.

While the excerpts detail various aspects of Crave Cookies' financial health and accounting practices, they do not include a specific schedule or breakdown of franchise terminations. The auditor's reports included in the excerpts provide opinions on the fairness of the financial statements but do not comment on franchise terminations. The notes to the financial statements explain different accounting policies and provide details on items like leases and receivables, but again, franchise terminations are not addressed.

Therefore, a prospective Crave Cookies franchisee should inquire directly with the franchisor about the number of franchise terminations, transfers, and non-renewals that have occurred in recent years. This information is typically found in Item 20 of the FDD, and requesting clarification will provide a more complete understanding of franchisee turnover within the Crave Cookies system. Understanding the reasons behind any terminations is crucial for assessing the risks and opportunities associated with investing in a Crave Cookies franchise.