Where can I find the audited opening balance sheet for Endless Summer Sweets?
Endless_Summer_Sweets Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit E contains our audited opening balance sheet dated December 31, 2023. Our fiscal year | |
| end is December 31st. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Endless Summer Sweets's 2024 Franchise Disclosure Document, the audited opening balance sheet dated December 31, 2023, is included as Exhibit E. Because Endless Summer Sweets has not been in business for three years or more, they are not required to include all financial statements normally mandated by the Franchise Rule of the Federal Trade Commission.
This means that prospective franchisees can review Endless Summer Sweets's financial position as of the end of 2023 to understand the company's assets and liabilities at that time. The balance sheet provides a snapshot of what the company owned and owed at the close of the fiscal year.
It is important for potential franchisees to carefully examine this balance sheet, along with other financial statements provided, to assess the financial stability and performance of Endless Summer Sweets before making an investment decision. Consulting with a financial advisor is advisable to fully understand the implications of the financial statements.