What was the net income for Focalpoint Coaching in the first year presented in this statement?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
$ | (266,698) | | | $ | 641,697 | $ | 529,061 | | | | | | |
STATEMENTS OF INCOME (LOSS) Years Ended December 31, 2023 and 2022
| Net revenues | $ | 6,121,239 | $ | 4,997,606 |
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Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, the financial statements for FocalPoint Coaching include an Independent Auditor's Report. The report covers the financial position as of December 31, 2023, and 2022. The report includes statements of income (loss), retained earnings (deficit), and cash flows for the years then ended.
Based on the supplementary information included in the FDD, for the year ended December 31, 2022, FocalPoint Coaching had net revenues of $4,997,606 and a cost of revenues of $2,753,66.
The FDD does not explicitly state the net income for FocalPoint Coaching in 2022. To determine the net income, a prospective franchisee should request the complete audited financial statements, including the income statement, from FocalPoint Coaching. This will provide a comprehensive view of the company's profitability.