For what year are the statements of income, retained earnings, and cash flow provided for Degree Wellness?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
-----| | PROFESSIONAL CORPORATION | MANAGED SERVICE ORGANIZATION | | By: | By: | | Name: WELLNESS PROVIDER THERAPIES, | Name: [FRANCHISEE ENTITY NAME] | | P.A. | Title: | | Title: Chief Executive Officer | Chief Executive Officer |
Item 21
FINANCIAL STATEMENTS
Attached to this Franchise Disclosure Document as Exhibit G are:
Degree Wellness Franchise, LLC's audited balance sheets as of December 31, 2024, and the related statements of income, retained earnings, and of cash flow for the years then ended. We have not been in business for three years or more and cannot include all the financial statements required by the Rule
Our fiscal year end is December 31. The Franchisor has not been in business for three years or more, and cannot include all financial statements required by the FTC Franchise Rule.
Source: Item 21 — Financial Statements (FDD page 66)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, the audited balance sheets are as of December 31, 2024, and the related statements of income, retained earnings, and cash flow are for the years then ended. The document also states that Degree Wellness has not been in business for three years or more, so it cannot include all the financial statements required by the Rule.
Furthermore, the independent auditor's report indicates that the financial statements of Degree Wellness, LLC, include the balance sheet as of December 31, 2024, and the related statements of earnings and members' equity (deficit) and cash flows are for the period from April 1, 2024, through December 31, 2024.
Therefore, prospective franchisees reviewing the 2025 FDD can examine the provided financial statements to understand Degree Wellness's financial position as of the end of 2024 and its financial performance during the period from April 1, 2024, to December 31, 2024. However, they should also consider that the company's limited operating history means that the financial statements may not provide a complete picture of its long-term financial prospects.