What were the total management fees for Fitstop for the year-to-date period in 2022/2023?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
| $1,409 | | Unrealized Currency Gain/Loss | $1,211 | $952 | | Total Expenses | $92,866 | $408,890 | | Operating Profit | ($92,866) | ($409,216) | | Tax Expenses | | | | Payroll Tax Expense | $1,275 | $3,242 | | Earnings After Tax | ($94,141) | ($412,458) | | Net income | ($94,141) | ($412,458) |
| BALANCE SHEET | Nov 2022 |
|---|---|
| ASSETS | |
| Cash & Equivalents | |
| Wells Fargo Bank 1202 | $193,572 |
| Other Current Assets | |
| Vendor Deposits | $65,000 |
| Total Current Assets | $258,572 |
| Fixed Assets | |
| Computer & Office Equipment | $19,488 |
| HQ Buildout | $104,735 |
| Total Fixed Assets | $124,223 |
| Total Non-Current Assets | $124,223 |
| Total Assets | $382,795 |
| LIABILITIES | |
| Accounts Payable | |
| Accounts Payable | $36,735 |
| Total Current Liabilities | $36,735 |
| Long Term Debt | |
| Intercompany - Fitstop Australia | $357,566 |
| Intercompany - Fitstop Holdings | $400,000 |
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
I am unable to provide the total management fees for Fitstop for the year-to-date period in 2022/2023, as this information is not present in the provided excerpts from the 2024 Franchise Disclosure Document. The excerpts do include a balance sheet from November 2022, which lists assets, liabilities, and equity, but it does not specify management fees. There is also discussion of royalty fees, fund contributions, and annual conference contributions, but these are distinct from management fees.
To obtain this information, a prospective Fitstop franchisee should directly ask the franchisor for a detailed breakdown of all fees paid in 2022 and 2023, including any management fees. Reviewing the complete audited financial statements for those years would also provide clarity.
Understanding the specific management fees is crucial for assessing the overall cost and profitability of a Fitstop franchise. This information will help potential franchisees make informed decisions about their investment.