Is the opening day balance sheet for Fitstop included as part of the audited financial statements?
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, include the opening day balance sheet as of November 2022, attached as Exhibit C.
Since Fitstop has not been franchising for three fiscal years, they are not in a position to disclose any additional financial statements typically required. This means prospective franchisees can review the provided balance sheets to understand Fitstop's financial position at the end of 2022 and 2023, as well as their opening day balance sheet from November 2022.
It is important for potential franchisees to carefully examine these financial statements and consult with a financial advisor to fully understand the financial health and stability of Fitstop before making any investment decisions.