As of May 31, 2024, what was the total equity of Fly Fitness?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
Because we have not been in business for three years, we are not able to include the three prior years of audited financial statements normally required by this Item 21. Our audited financial statements for the periods ended December 31, 2023, and December 31, 2022, and an unaudited balance sheet as of May 31, 2024 are included in Exhibit D.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 44)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the balance sheet as of May 31, 2024 is unaudited. The document includes audited financial statements for the years ending December 31, 2022 and December 31, 2023.
While the FDD references an unaudited balance sheet as of May 31, 2024, the provided excerpts do not contain the actual balance sheet or the members' equity figure for that date.
To obtain the total equity as of May 31, 2024, a prospective franchisee should request a copy of the balance sheet from Fly Fitness. This will provide a more current financial picture of the company.