What is the date of the auditor's report for Basecamp Fitness?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
The financial statements of the Company as of December 31, 2023 and for the years ended December 31, 2023 and 2022 were audited by other auditors whose report, dated March 27, 2024, expressed an unmodified opinion on those statements.
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
The 2025 FDD for Basecamp Fitness includes the auditor's report for SEB Franchising Guarantor LLC. This report states that the financial statements for the years ended December 31, 2023 and 2022 were audited by other auditors. The report from these other auditors was dated March 27, 2024, and it expressed an unmodified opinion on those statements.
An unmodified opinion is the best outcome of an audit, indicating that the financial statements are presented fairly and in accordance with accounting principles. The audit was conducted according to auditing standards generally accepted in the United States of America.
Prospective Basecamp Fitness franchisees should note that these financial statements and audit reports pertain to SEB Franchising Guarantor LLC, which guarantees the obligations of the franchising entities, rather than directly to Basecamp Fitness Franchisor LLC. This is a common practice in franchising, where a separate entity may provide financial backing or guarantees for the franchise system.