What is the date of the audited opening balance sheet for Fly To Fit contained in Exhibit F?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
| 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 audited opening balance sheet dated 4/15/2024. Our fiscal year end is | |
| December 31. |
Source: Item 23 — RECEIPTS (FDD pages 44–134)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, Exhibit F contains the company's audited opening balance sheet. The balance sheet is dated April 15, 2024. Fly To Fit's fiscal year end is December 31.
Because Fly To Fit has not been in business for at least three years, the FDD does not include all financial statements typically required by the Franchise Rule of the Federal Trade Commission. The inclusion of an audited opening balance sheet provides some financial transparency for potential franchisees, offering a snapshot of the company's financial position at a specific point in time.
Prospective franchisees should carefully review the opening balance sheet and consult with a financial advisor to understand the financial health of Fly To Fit. They should also consider that the balance sheet only represents a single date and may not reflect the company's current financial situation. It is important to ask Fly To Fit for any available updated financial information and to conduct thorough due diligence before investing in a franchise.