What specific financial statements must a Basecamp Fitness franchisee provide at the end of each fiscal year?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
In addition, within thirty (30) days following your fiscal year end, you will provide us with copies of your financial statements (reviewed by your accountant), including an income statement for the fiscal year just ended and a balance sheet, cash flow statement, and any other document accompanying your financial statements, as of the end of such fiscal year, which financial statements will have been prepared in accordance with generally accepted accounting principles applied on a consistent basis.
We will also have the right to request other financial statements, reports and information from you during the year, and you will deliver those financial statements, reports and information to us when, and in the form and manner, we require.
Also, on or before April 15 of each year, you must provide us with a copy of your federal tax return and the federal tax returns of your owners for the previous tax year.
Source: Item 22 — CONTRACTS (FDD pages 61–62)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, franchisees must provide specific financial statements to the franchisor within thirty days following the end of each fiscal year. These include an income statement for the fiscal year, a balance sheet, and a cash flow statement.
These financial statements must be reviewed by the franchisee's accountant and prepared in accordance with generally accepted accounting principles (GAAP). This ensures that the financial information is accurate, consistent, and comparable across all Basecamp Fitness franchises.
In addition to these annual financial statements, Basecamp Fitness franchisees are also required to provide monthly sales information by the 10th of each month. The franchisor also retains the right to request other financial statements, reports, and information throughout the year as needed. Franchisees must also provide a copy of their federal tax return and the federal tax returns of their owners on or before April 15 of each year.