What years are covered by the audited financial statements included in the Crave Cookies FDD?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
Members and Management Crave Cookies Franchising, LLC Riverton, Utah
Opinion
We have audited the financial statements of Crave Cookies Franchising, LLC (the Company), which comprise the balance sheets as of December 31, 2023 and 2022, and the related statements of operations, members' deficit, and cash flows for the years ended December 31, 2023 and 2022, 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 the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, the audited financial statements include information for multiple years. Specifically, there are balance sheets as of December 31, 2022 and 2021, along with related statements of operations, members' deficit, and cash flows for the year ended December 31, 2022, and the period from February 15, 2021 (inception) to December 31, 2021. Additionally, the financial statements comprise the balance sheet as of December 31, 2023 and 2022, and the related statements of operations, members' deficit, and cash flows for the years ended December 31, 2023 and 2022. There is also a balance sheet as of December 31, 2024, and the related statements of income, members' equity, and cash flows for the year then ended.
In summary, the audited financial statements in the 2025 FDD provide a financial overview of Crave Cookies for the years 2021, 2022, 2023 and 2024. This multi-year view allows prospective franchisees to assess the financial trends and stability of the company over time. Reviewing these statements can help franchisees understand revenue growth, profitability, and cash flow patterns, which are crucial for evaluating the overall health and potential of the franchise system.
Prospective franchisees should carefully examine these financial statements and consult with a financial advisor to fully understand the implications of the data presented. Analyzing the trends and comparing them to industry benchmarks can provide valuable insights into the financial performance of Crave Cookies and its potential as a franchise investment.