Does the Fat Shack FDD include a balance sheet?
Fat_Shack Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the financial statements of Fat Shack Inc. and Subsidiary, which comprises the balance sheet as of December 31, 2024, 2023 and 2022 and the related statement of operations, and changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 21 — Financial Statements (FDD pages 52–53)
What This Means (2025 FDD)
Yes, the 2025 Fat Shack FDD includes consolidated balance sheets. Specifically, the Independent Auditor's Report states that the financial statements of Fat Shack Inc. and Subsidiary comprise the balance sheets as of December 31, 2024, 2023, and 2022. These balance sheets are audited by Muhammad Zubairy, CPA PC.
This means that prospective Fat Shack franchisees can review the company's financial position over the past three years, including its assets, liabilities, and equity. Reviewing these balance sheets can help potential franchisees assess the financial stability and overall health of Fat Shack.
The FDD also requires franchisees to provide Fat Shack with a balance sheet of their Fat Shack Restaurant within 90 days after the end of the franchisee's fiscal year. This balance sheet must be prepared in accordance with generally accepted accounting principles (GAAP).