As of what date is the balance sheet presented for Devon Creek Franchise Group, LLC?

According to Devon Creek's 2024 Franchise Disclosure Document, the balance sheet for Devon Creek Franchise Group, LLC is presented as of December 31, 2023. The financial statements, which include the balance sheet, underwent an independent audit. The auditor's report confirms that the financial statements fairly represent the financial position of Devon Creek as of this date.

Devon Creek Franchise Group, LLC was formed on April 5, 2023, and the provided financial statements cover the period from its inception until December 31, 2023. The company's fiscal year ends on December 31. Because Devon Creek had not been in business for three years, the FDD does not include the three prior years of audited financial statements normally required.

For a prospective franchisee, this means the financial data available is limited to the initial nine months of operation. It is important to consider that this is a relatively short operational history when evaluating the financial health and stability of Devon Creek. A potential franchisee should carefully review these statements with a financial advisor to understand the implications of the limited financial history.

Furthermore, the auditor's report includes a restriction on the use of the financial statements, limiting their use to inclusion within the Franchise Disclosure Document. This means that the statements are specifically prepared for this purpose and should not be relied upon for any other use without further verification or analysis.