As of what date is Fitstop's opening day balance sheet?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
Our audited financial statements for our fiscal year ending December 31, 2023 and December 31, 2022, as well as our opening day balance sheet as of November 2022, are attached to this Disclosure Document as Exhibit C. We have not yet been franchising for three (3) fiscal years and, as such, we are not in position to disclose any additional financial statements typically required in this Item.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the opening day balance sheet is as of November 2022. The document states that the audited financial statements for the fiscal years ending December 31, 2023, and December 31, 2022, along with the opening day balance sheet as of November 2022, are attached as Exhibit C.
This means that prospective Fitstop franchisees can review the company's financial performance and position as of that specific date. The balance sheet provides a snapshot of Fitstop's assets, liabilities, and equity at the beginning of its operations.
Reviewing this balance sheet can give potential franchisees insight into the initial financial structure of Fitstop and how it has evolved since its opening day. It's important to analyze these statements carefully to understand the financial health and stability of the company.