What was the amount spent on assessment fees for Focalpoint Coaching in the later year presented in the table?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
Our report on our audits of the basic financial statements of FocalPoint Coaching, Inc. for the years ended December 31, 2023 and 2022 appear on pages 1 and 2. Those audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The schedules of net revenues, cost of revenues, general and administrative expenses on pages 17 through 18 are not a required part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
Based on the 2025 Focalpoint Coaching Franchise Disclosure Document, the financial statements provide details on the company's revenues, costs, and expenses. To determine the amount spent on assessment fees, we need to examine the provided financial statements for the years 2022 and 2023. The schedules of net revenues, cost of revenues, and general and administrative expenses are included as supplementary information. However, the excerpt does not explicitly mention a specific line item for 'assessment fees'.
Without a direct mention of 'assessment fees' in the provided financial data, it is difficult to pinpoint the exact amount spent on this category for either 2022 or 2023. Assessment fees might be categorized under a different expense heading or included within a broader category. A prospective franchisee would need to carefully review the full financial statements and notes to identify any mentions of assessment-related costs.
To gain clarity, a potential Focalpoint Coaching franchisee should ask the franchisor for a detailed breakdown of the expenses included in the 'general and administrative expenses' or 'cost of revenues' sections. Specifically, they should inquire whether assessment fees are included in these categories and, if so, what the specific amounts were for 2022 and 2023. Understanding these costs is crucial for accurately projecting expenses and assessing the financial viability of the franchise.