Within how many days after the close of Body20's fiscal year will an unaudited statement of contributions and expenditures for the Brand Fund be made available to franchisees upon written request?
Body20 Franchise · 2025 FDDAnswer from 2025 FDD Document
We will prepare an unaudited statement of contributions and expenditures for the Brand Fund and make it available within 60 days after the close of our fiscal year to franchisees that make a written request for a copy. If any monies in the Brand Fund remain at the end of a fiscal year, they will carry-over in the Brand Fund into the next fiscal year.
Source: Item 23 — RECEIPT (FDD pages 74–251)
What This Means (2025 FDD)
According to Body20's 2025 Franchise Disclosure Document, Body20 will prepare an unaudited statement of contributions and expenditures for the Brand Fund. This statement will be made available to franchisees within 60 days after the close of Body20's fiscal year, provided the franchisee submits a written request for a copy.
This means that as a Body20 franchisee, you have the right to request and receive an overview of how the Brand Fund, which is funded by franchisee fees, is being managed and spent. The Brand Fund is used for various marketing and promotional activities intended to benefit the Body20 brand and its studios.
However, it's important to note that the statement is unaudited, meaning it has not been verified by an independent accounting firm. While Body20 is not obligated to have an independent audit completed, they may elect to do so. If any monies remain in the Brand Fund at the end of the fiscal year, these funds will carry over into the next fiscal year.