What is the location where the audit report was issued for Basecamp Fitness?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
| Page(s) | |
|---|---|
| Report of Independent Auditors1–2 | |
| Financial Statements | |
| Balance Sheets | |
| December 31, 2024 and 20233 | |
| Statements of Income (Loss) | |
| Years Ended December 31, 2024, 2023 and 20224 | |
| Statements of Member's Equity | |
| Years Ended December 31, 2024, 2023 and 20225 | |
| Statements of Cash Flows | |
| Years Ended December 31, 2024, 2023 and 20226 | |
| Notes to Financial Statements | |
| December 31, 2024, 2023 and 20227–8 |
Report of Independent Auditors
To the Management and Board of Directors of Purpose Brands Intermediate LLC
Opinion
We have audited the accompanying financial statements of SEB Franchising Guarantor LLC (the "Company"), which comprise the balance sheet as of December 31, 2024, and the related statements of income (loss), member's equity and cash flows for the year then ended, including the related notes (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (US GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit.
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
The 2025 Basecamp Fitness FDD does not explicitly state the location from which the audit report was issued. The audit report included in Item 23 is addressed to the Management and Board of Directors of Purpose Brands Intermediate LLC, which is the parent company of Basecamp Fitness. The report includes the opinion of the auditors on the consolidated financial statements of Anytime Fitness, LLC and its subsidiaries. The report also mentions that the consolidated financial statements for previous years (2022 and 2023) were audited by other auditors, with their report dated March 27, 2024.
While the report provides details about the scope and basis of the audit, the responsibilities of the management, and the auditors' opinion, it omits the specific city and state where the audit work was performed and the report was issued. The FDD does include the address of Basecamp Fitness Franchisor LLC, which is 111 Weir Drive, Woodbury, Minnesota 55125, and this location is also where SEB Franchising Guarantor LLC, the guarantor of Basecamp Fitness Franchisor LLC, signs the guarantee of performance.
A prospective Basecamp Fitness franchisee should directly ask the franchisor for the location where the audit report was issued to gain a better understanding of the auditor's proximity to the company's headquarters and operations. This information, while seemingly minor, can contribute to a more comprehensive assessment of the franchise opportunity.