What was the total amount spent on flights and accommodation for Fitstop in November 2022?
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 $6,872 on flights and accommodation in November 2022. This figure is part of the broader Profit & Loss statement provided in the FDD. It is important to note that this is a single-month snapshot of expenses for the company.
For a prospective franchisee, this information provides a glimpse into the operational costs incurred by Fitstop. While this specific expense may not be directly applicable to a franchisee's day-to-day operations, it offers insight into the types of expenditures the company faces. Understanding these costs can help franchisees better assess the financial health and management of Fitstop.
It's also worth noting that the FDD includes a year-to-date (YTD) figure for flights and accommodation, which totaled $33,292 for the 2022/2023 period. This larger figure gives a better sense of the annual expenditure in this category. Reviewing these figures in the context of overall expenses and revenues can provide a more comprehensive understanding of Fitstop's financial performance.