Are the financial statements of C3 Wellness Spa unaudited?
C3_Wellness_Spa Franchise · 2024 FDDAnswer from 2024 FDD Document
The financial information was not prepared on a basis consistent with generally accepted accounting principles. Data for our Company Owned Outlets is based on information reported to us by our affiliate. During the 2023 Calendar Year we did not have any New Franchise Outlets or Operational Franchise Outlets. The information in this analysis has not been audited, is based on historical financial data and is not a forecast or projection of future financial performance.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 58)
What This Means (2024 FDD)
According to C3 Wellness Spa's 2024 Franchise Disclosure Document, the financial information provided was not prepared on a basis consistent with generally accepted accounting principles. The data for Company Owned Outlets is based on information reported by their affiliate.
C3 Wellness Spa states that they did not have any New Franchise Outlets or Operational Franchise Outlets during the 2023 calendar year. The franchisor explicitly states that the information in the Item 19 analysis has not been audited.
This means that the financial performance data presented in Item 19 of the FDD is based on unaudited information provided by C3 Wellness Spa's affiliate for Company Owned Outlets. Prospective franchisees should be aware that this data has not been independently verified and may not conform to standard accounting practices. Therefore, it is essential for potential franchisees to carefully review the assumptions and limitations outlined in Item 19 and to conduct their own due diligence, including consulting with a financial advisor, to assess the reliability and suitability of the financial performance data for their investment decisions.