Highlights of Yogurt Lab’s Item 19 Financial Performance Representations (2014 FDD)

This Item 19 contains certain historical data relating to the operation of Yogurt Lab’s 7 affiliate-owned locations which were open as of December 31, 2013.

The taxable annual sales data included in the Table reflects information for 2013 for each Store which was open during 2013.

The table also shows percentage food cost, labor cost, and gross rent for each of the 7 Stores in 2013.

Yogurt Lab has not audited this information, nor independently verified this information.

All percentages are as of that particular Store’s sales and are minus any start-up/build costs.

Because of the seasonality of the business, the timing of the opening of a Store open less than a year ago can have a material impact on some of the cost percentages. For example, both Eagan and Wayzata stores were not opened during the first quarter of 2013 which is a seasonally slow period resulting in lower gross rent and labor cost percentages.

Food cost includes yogurt mix, milk, and all toppings.

Gross rent includes base rent, CAM, taxes, and percentage rent.

Labor cost includes wages (both hourly and salaried). Labor cost does not include payroll tax or any benefits.

Other operating expenses include supplies, cups and spoons, advertising, repairs, maintenance, business licenses, credit card processing fees, printing, and services.

The information set forth below reflects only some expenses associated with the ongoing operations of a Yogurt Lab Store. You will incur many other types of expenses in operating a Yogurt Lab Store, such as: (1) Royalty Fee; (2) Brand Fund Contribution; (3) insurance; (4) debt service, interest, and bank charges.

Some outlets have earned this amount. Your individual results may differ. There is no assurance you will earn as much. A new franchisee’s individual results may differ from the results stated in this financial performance representation.

Calhoun

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