Does Fly To Fit have audited financial statements for the past three years?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
ate:
None
Item 21 FINANCIAL STATEMENTS
We have not been in business for three years or more, and therefore cannot include all financial statements required by the Franchise Rule of the Federal Trade Commission. Exhibit F contains our audite
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 44)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the company has not been in business for three years or more and therefore cannot include all financial statements required by the Franchise Rule of the Federal Trade Commission. However, Exhibit F contains Fly To Fit's audited opening balance sheet dated April 15, 2024. The company's fiscal year end is December 31.
Because Fly To Fit has not been in business for at least three years, the FDD only includes the company's audited opening balance sheet. This is a common situation for newer franchises, as they have not yet accumulated the financial history to provide a full three years of statements.
A prospective franchisee should consider that the limited financial history may make it more difficult to fully assess the financial stability and performance of Fly To Fit. It would be prudent to ask Fly To Fit for any available financial projections or other data that could help in evaluating the potential risks and rewards of investing in the franchise.