If I request substantiation for the data in Item 19, who will provide it to me for the Southern Steer franchise?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
Substantiation for the data contained in this ITEM 19 will be made available to you by us upon reasonable request.
CHART ONE
FIVE YEAR SUMMARY CLEARWATER, FLORIDA LOCATION GROSS PROFIT MARGIN
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- Written substantiation for the financial performance representation presented above will be made available to a prospective franchisee on reasonable request.
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- The information used to prepare the charges above was prepared from Our Affiliate's internal accounting system. We do not know of an instance, nor do we have reason to believe that the Affiliate would overstate or understate its sales or expenses. However, these sales and expense numbers have not been audited and we have not independently verified these numbers.
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- Other than the preceding financial performance representation, We do not make any financial performance representations. We also do not authorize Our employees or representatives to make any such representations either orally or in writing. If You are purchasing an existing outlet, however, We may provide You with actual records of that outlet. If You receive any other financial performance information or projections of Your future income, you should report it to Greg Snyder at 35246 US HWY 19 N #219, Palm Harbor, FL 34684 or at 727-501-3541, the Federal Trade Commission, and the appropriate state regulatory agencies.
Source: Item 19 — ITEM. 19 FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 50–58)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, if you request substantiation for the financial performance data presented in Item 19, it will be provided to you by Southern Steer. The FDD also states that written substantiation for the financial performance representation will be made available to a prospective franchisee upon reasonable request.
It's important to note that the financial information used to prepare the charts in Item 19 was derived from Southern Steer's affiliate's internal accounting system. While Southern Steer believes the affiliate would not intentionally misrepresent sales or expenses, the FDD emphasizes that these figures have not been audited, and Southern Steer has not independently verified them. This means the data is based on internal records rather than an independent financial review.
Beyond the specific financial performance representations in Item 19, Southern Steer does not authorize its employees or representatives to make any other financial performance representations, either orally or in writing. However, if you are considering purchasing an existing Southern Steer outlet, Southern Steer may provide you with the actual records of that specific outlet. If you receive any other financial performance information or projections about your future income, the FDD advises you to report it to Greg Snyder at 35246 US HWY 19 N #219, Palm Harbor, FL 34684 or at 727-501-3541, the Federal Trade Commission, and the appropriate state regulatory agencies.
As a prospective franchisee, it is crucial to carefully review any financial information provided, understand its source and limitations, and seek professional advice to assess the potential financial performance of a Southern Steer franchise.