What financial statements are included in the Crisp & Green Franchising LLC financial statements?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Crisp & Green Franchising LLC, which comprise the balance sheets as of December 31, 2023, 2022, and 2021 and the related statements of operations, member's equity, and cash flows for the years then ended, 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 Crisp & Green Franchising LLC as of December 31, 2023, 2022, and 2021, 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.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the financial statements of Crisp & Green Franchising LLC include balance sheets, statements of operations, statements of member's equity, and statements of cash flows. These financial statements are provided for the years ended December 31, 2023, 2022, and 2021.
The inclusion of these specific financial statements is standard practice in franchise FDDs. The balance sheets provide a snapshot of Crisp & Green's assets, liabilities, and equity at the end of each year. The statements of operations, also known as income statements, show the company's revenues, expenses, and profits over the three-year period. The statements of member's equity detail changes in the ownership stake in the company, and the statements of cash flows illustrate the movement of cash both into and out of the business during those years.
These audited financial statements are crucial for prospective franchisees as they offer insights into the financial health and stability of Crisp & Green. Reviewing these statements can help potential franchisees assess the franchisor's profitability, liquidity, and solvency. It is important to carefully examine the trends and any significant changes in these financial metrics over the three-year period to make an informed investment decision.
The financial statements have been audited by CliftonLarsonAllen LLP, and their report, included in the FDD, expresses their opinion on the fairness of the presentation of Crisp & Green's financial position and results of operations in accordance with accounting principles generally accepted in the United States of America.