FDD Talk Daily: Great Harvest Bread Company’s Pro Forma Worksheets (Based on System Averages)
Highlights of Great Harvest Bread Company’s Item 19 Financial Performance Representations (2012 FDD) – Part 3
Section 5 – Pro Forma Worksheet Year (2010 System Averages)
- The franchisor has included in the pro forma worksheets (below and in Part 3) a detailed breakdown of certain average costs (as a percentage of sales) from 2010 for 135 reporting bread companies.
- The franchisor based this presentation on financial information reported by franchisees. The franchisor has not verified this information or verified its accuracy. The franchisees reported their numbers for 2010.
- The amounts presented in the pro forma worksheets do not include the results of 29 Great Harvest franchisees in operation during the entire 2010 year, as these franchisees failed to report any or some of their 2010 financial results. Had these non-reporting franchisees’ results been included with those of the reporting franchisees, the amounts would differ, perhaps significantly, from those reported.
- The franchisor has not adjusted the numbers to conform to the accounting practices that each bread company uses. Differences in depreciation methods, cash or accrual methods of accounting, and the like affect the comparability of the information presented.
- Bread companies in 39 states are represented in the averages.
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