For what years are Fat Shack's audited financial statements provided in this Disclosure Document?
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.
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.
Source: Item 21 — Financial Statements (FDD pages 52–53)
What This Means (2025 FDD)
According to Fat Shack's 2025 Franchise Disclosure Document, the audited financial statements included cover the fiscal years 2022, 2023, and 2024. This means that prospective franchisees can review Fat Shack's financial performance over the past three years to identify trends and assess the company's financial health.
The inclusion of these audited statements is a standard practice in franchising, allowing potential franchisees to make informed decisions. Audited financial statements provide an objective view of the franchisor's financial condition, as they have been reviewed by an independent CPA.
Specifically, the auditor's report states that they have audited the balance sheets as of December 31 for each of these years, along with the related statements of operations, changes in stockholder's equity, and cash flows. This comprehensive review gives potential investors a detailed look into Fat Shack's financial activities and position.