What was the total amount spent on advertising for Fitstop during the 2022/2023 year-to-date period?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
subsequent events that would have required further adjustment or disclosure in the financial statements. Subsequent events have been evaluated through. May 23, 2024, which is the date the financial statements were available to be issued.
| PROFIT & LOSS | Nov 2022 | 2022/2023 (YTD) |
|---|---|---|
| Cost of Sales | ||
| Purchase of Apparel/Accessories/Supps | $0 | $326 |
| Gross Profit | $0 | ($326) |
| Expenses | ||
| Flights and Accommodation | $6,872 | $33,292 |
| Travel Expenses | $6,348 | $15,556 |
| Advertising | $0 | $750 |
| Bank Fees & Charges | $91 | $110 |
| Automobile Expense | $2,000 | $2,000 |
| Employee - Salaries and Wage | $16,667 | $38,718 |
| Management Fees | $35,328 | $184,245 |
| Legal Expenses | $0 | $10,000 |
| Consulting Fees | $22,120 | $118,930 |
| IT Software and expenses | $363 | $749 |
| Office Expenses | $1,397 | $2,18 |
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the company spent $750 on advertising during the 2022/2023 year-to-date (YTD) period. This figure is part of the Profit & Loss statement included in the FDD. It is important to note that this amount reflects Fitstop USA, Inc.'s advertising expenses and not necessarily the advertising spend of individual franchisees. The YTD period is not defined in the excerpt.
For a prospective franchisee, this information provides a glimpse into the corporate advertising investment made by Fitstop during that specific period. However, franchisees should recognize that this figure may not represent the full scope of marketing and advertising efforts, as franchisees are typically required to contribute to marketing and advertising initiatives at the local level.
It is also important for potential franchisees to understand how Fitstop allocates and manages its marketing funds, as outlined in other sections of the FDD. Franchisees should inquire about the specific marketing strategies and support they can expect, as well as any requirements for local marketing spend. Understanding the overall marketing plan and the role of both the franchisor and franchisee is crucial for assessing the potential success of a Fitstop franchise.