Does Fitstop provide financial statements for the fiscal year ending December 31, 2021?
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 franchisor includes audited financial statements for the fiscal years ending December 31, 2023, and December 31, 2022. Additionally, Fitstop provides an opening day balance sheet as of November 2022.
However, Fitstop states that they have not been franchising for three fiscal years. Therefore, they are not in a position to disclose any additional financial statements typically required.
Because the FDD does not include financial statements for the fiscal year ending December 31, 2021, a prospective franchisee should request these statements from Fitstop to gain a better understanding of the company's financial performance over a longer period. This will allow for a more comprehensive financial analysis and risk assessment.