What is the source of the gross Restaurant sales data reported by Crisp & Green franchisees?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
In the tables below, we report gross Restaurant sales data from our sole Corporate Restaurant and our franchised Restaurants that were open for the entire 2023 calendar year. The disclosures present the average and median gross sales performance of these Restaurants in calendar year 2023. The information is based on revenue reports we received from our franchisees, which were not audited, and the revenue and expense reports of our Corporate Restaurant, which were also not audited. The Restaurants reported offer substantially the same products and services to the public as you will offer as a franchisee operating a franchised Restaurant. We have not excluded any Restaurants that were open and operating for 12 months or longer as of December 31, 2023.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 57–62)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the gross Restaurant sales data is based on revenue reports received from franchisees. The financial performance representations in Item 19 of the FDD include historical gross sales data from the calendar year ended December 31, 2023. This data encompasses the sales from Crisp & Green's sole Corporate Restaurant and 28 franchised Restaurants that were open and operating for the entire 2023 calendar year.
The reported gross Restaurant sales data reflects the average and median sales performance of these restaurants. It's important to note that the revenue reports from franchisees, as well as the revenue and expense reports from the Corporate Restaurant, were not audited. Crisp & Green states that the restaurants included in these reports offer substantially the same products and services that a new franchisee will offer. No restaurants open for 12 months or longer as of December 31, 2023, were excluded from the data.
Crisp & Green emphasizes that individual results may vary, and there is no assurance that a franchisee will achieve the same level of sales. The FDD also indicates that written substantiation for the financial performance representation will be made available to prospective franchisees upon request. If a prospective franchisee receives any financial performance information or projections outside of Item 19, they are advised to report it to Crisp & Green's management, the Federal Trade Commission, and appropriate state regulatory agencies.