What was the total amount of travel expenses 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 total travel expenses for the 2022/2023 year-to-date (YTD) period amounted to $15,556. This figure provides insight into the brand's spending on travel-related activities during that timeframe.
For a prospective franchisee, understanding these expenses can be crucial for benchmarking their own potential costs. Travel expenses may include costs associated with training, attending conferences, or providing support to franchise locations. It is important to note that this figure represents Fitstop's expenses and may not directly translate to the franchisee's operational costs.
It's also worth noting that Fitstop's expenses for flights and accommodation during the same period were $33,292. Reviewing these expenses in the context of overall financial performance can help potential franchisees assess the financial health and operational strategies of the franchisor. This information, combined with other financial data in the FDD, can assist in making an informed investment decision.