What was the total cost of revenues for Focalpoint Coaching for the year ended December 31, 2024?
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, 2024 and 2023 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 18 through 19 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 for the years ended December 31, 2024, and 2023. These supplementary schedules include net revenues, cost of revenues, and general and administrative expenses. These schedules are derived from the company's underlying accounting records and are subjected to auditing procedures.
However, the excerpt does not specify the exact total cost of revenues for Focalpoint Coaching for the year ended December 31, 2024. While the document mentions that this information is included in the schedules of net revenues, cost of revenues, and general and administrative expenses, the specific figures are not provided in this excerpt.
A prospective franchisee should review the full audited financial statements in Exhibit C of the FDD, specifically the schedules of net revenues, cost of revenues, and general and administrative expenses, to find the exact cost of revenues for the year ended December 31, 2024. It would also be prudent to ask the franchisor for clarification on any line items within the cost of revenues to fully understand what expenses are included.