How much did Focalpoint Coaching spend on training costs in the earlier 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)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the company's financial statements include details on costs of revenues, which include training costs. The document provides an Independent Auditor's Report on the supplementary information, which states that the schedules of net revenues, cost of revenues, and general and administrative expenses are derived from the company's underlying accounting records. These schedules are audited to ensure they are fairly stated in relation to the basic financial statements.
However, the specific amount spent on training costs for the earlier year, 2022, is not explicitly broken out in the provided excerpts. While the financial statements include a line item for 'Cost of Revenues,' this encompasses more than just training costs. Therefore, it is not possible to isolate the exact amount Focalpoint Coaching spent specifically on training in 2022 from the information provided.
A prospective Focalpoint Coaching franchisee should inquire directly with the franchisor to obtain a detailed breakdown of the 'Cost of Revenues' to understand the specific expenses associated with training. This information would be helpful in assessing the franchisor's investment in training and its potential impact on the franchisee's success.