What was the number of US Disclosed Spray Net Businesses used to calculate the averages in Section I?

According to Spray Net's 2025 Franchise Disclosure Document, the financial performance data in Section I is based on seven US businesses. These seven businesses, referred to as the "US Disclosed Businesses", operated for the entire 2024 calendar year and reported complete financial data to Spray Net.

It is important to note that Spray Net had a total of twenty-nine franchisees operating in the United States as of December 31, 2024. However, the financial performance representations in Section I only include data from the seven US Disclosed Businesses that met the criteria of operating full-time and providing complete financial data. The other US businesses were excluded from this section for various reasons, such as operating part-time or not reporting complete financials.

Prospective franchisees should understand that the financial performance data presented in Section I may not be representative of all Spray Net franchises in the United States. The data is based on a limited number of businesses that met specific criteria. It is crucial for potential franchisees to consider this when evaluating the financial potential of a Spray Net franchise and to conduct their own due diligence, including speaking with existing franchisees and consulting with a financial advisor.