What is the date of the audited opening balance sheet included in Exhibit F for Fly To Fit?
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, the audited opening balance sheet included in Exhibit F is dated April 15, 2024. The document also specifies that Fly To Fit's fiscal year ends on December 31.
This information is important for prospective franchisees as the audited balance sheet provides a snapshot of Fly To Fit's financial position at a specific point in time. Franchisees can use this information, along with other financial statements and disclosures in the FDD, to assess the financial stability and performance of Fly To Fit.
The fact that Fly To Fit includes an audited opening balance sheet suggests a commitment to transparency. However, because Fly To Fit has not been in business for three years or more, they are not required to include all financial statements typically mandated by the Franchise Rule of the Federal Trade Commission. This is a common situation for newer franchises.
Prospective franchisees should carefully review the audited opening balance sheet and other financial information provided in the FDD. It is also advisable to seek professional financial advice to fully understand the implications of Fly To Fit's financial position before making any investment decisions.