What was the cost of revenues for Focalpoint Coaching for the year ending December 31, 2022?
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)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the financial statements include an independent auditor's report on supplementary information, including schedules of net revenues, cost of revenues, and general and administrative expenses. However, the excerpt does not specify the exact cost of revenues for the year ending December 31, 2022.
While the auditor's report confirms that the supplementary information is fairly stated in all material respects, the specific figures are not present in this excerpt. The financial statements are audited, and the auditor's opinion suggests that they present fairly the financial position, results of operations, and cash flows of Focalpoint Coaching.
A prospective franchisee should request the specific financial schedules detailing the cost of revenues for 2022 from Focalpoint Coaching to gain a clearer understanding of the company's financial performance. Understanding these costs is crucial for assessing the profitability and financial health of the franchisor.