For the Jersey Mikes financial statements, on what pages can I find the Notes to Consolidated Financial Statements?

According to Jersey Mike's 2025 Franchise Disclosure Document, the Notes to Consolidated Financial Statements can be found on multiple pages within Item 22. Specifically, the document includes "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024 AND 2023, AND FOR THE YEARS ENDED DECEMBER 31, 2024, 2023, AND 2022." These notes provide additional context and details regarding the financial statements of Jersey Mike's Franchise Systems, LLC and its affiliates.

These notes are crucial for a comprehensive understanding of Jersey Mike's financial position and performance. They offer insights into the accounting policies, business operations, and potential risks or liabilities that may not be immediately apparent from the main financial statements. For instance, the notes include details about the description of the business, accounting policies, fair value measurements, and other relevant information.

Prospective franchisees should carefully review these notes to gain a deeper understanding of the financial health and stability of Jersey Mike's. Understanding these notes can help potential franchisees assess the financial risks and opportunities associated with investing in a Jersey Mike's franchise. It is advisable to consult with a financial advisor or accountant to fully interpret the implications of these notes.