Where can I find Fitstop's audited financial statements in the Disclosure Document?
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 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 included as Exhibit C to the document.
As a prospective franchisee, reviewing these financial statements is crucial. They provide insights into Fitstop's financial stability, profitability, and overall financial health. The independent auditor's report, prepared by Muhammad Zubairy, CPA PC, offers an opinion on the fairness of Fitstop's financial presentation in accordance with accounting principles generally accepted in the United States of America.
Since Fitstop has not been franchising for three fiscal years, the FDD indicates that they have not included additional financial statements typically required. This means the financial history available is limited, and potential franchisees should carefully analyze the provided statements and consider seeking professional financial advice to fully understand the risks and opportunities associated with investing in a Fitstop franchise.