For what period are the Gokhale Method's audited financial statements provided?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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Opinion
We have audited the accompanying financial statements of Gokhale Method Institute, Inc. ("GMI" or the "Company"), which comprise the balance sheet as of December 31, 2023, and the related statements of income, changes in stockholder's equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Gokhale Method Institute, Inc. as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the audited financial statements provided cover three specific periods. There are reports for the year ending December 31, 2023, the year ending December 31, 2022, and for the two-year period ending December 31, 2021 and 2020.
These financial statements offer prospective franchisees insight into the company's financial performance over the past several years. By reviewing these statements, potential franchisees can assess the revenue, expenses, and profitability trends of Gokhale Method. This information can be valuable in evaluating the financial stability and growth potential of the franchise system.
It is important for potential franchisees to carefully examine these audited financial statements and consult with a financial advisor to fully understand the financial health of Gokhale Method. Understanding the franchisor's financial history is a critical step in making an informed decision about investing in a franchise.