Does the Fat Shack FDD include financial statements for the year 2021?
Fat_Shack Franchise · 2025 FDDAnswer from 2025 FDD Document
f Fat Shack Inc. and Subsidiary**
Opinion
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.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Fat Shack Inc. and Subsidiary as of December 31, 2024, 2023 and 2022 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.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report.
Source: Item 21 — Financial Statements (FDD pages 52–53)
What This Means (2025 FDD)
According to the 2025 Fat Shack FDD, the franchisor includes audited financial statements. Specifically, the Independent Auditor's Report states that the financial statements of Fat Shack Inc. and Subsidiary include balance sheets as of December 31, 2024, 2023 and 2022, and the related statements of operations, changes in stockholders' equity, and cash flows for the years then ended.
The auditor, Muhammad Zubairy, CPA PC, has consented to the use of their report dated March 1, 2025, relating to the financial statements of Fat Shack for the period ending December 31, 2024, in the Franchise Disclosure Document. This indicates that the FDD includes financial statements for the years 2022, 2023, and 2024.
However, the financial statements for the year 2021 are not included in the provided excerpts from the 2025 Fat Shack FDD. A prospective franchisee may want to contact Fat Shack to determine if they can provide financial statements from 2021.