What financial statement is 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, because Fly To Fit has not been in business for three years or more, they are not including all financial statements required by the Franchise Rule of the Federal Trade Commission. Instead, Exhibit F contains Fly To Fit's audited opening balance sheet dated April 15, 2024. Fly To Fit's fiscal year end is December 31.
This means that prospective franchisees reviewing the FDD will only see the company's opening balance sheet rather than a full set of financial statements, including income statements and cash flow statements, for the past three years. This is due to the company's limited operating history.
Because of the limited financial information, prospective franchisees should consider this when evaluating the financial stability of Fly To Fit. It is important to ask Fly To Fit for any additional financial information that may be available and to conduct thorough due diligence before investing in a franchise.