What was the funded status (unfunded) for Healthsource Chiropractic in 2022?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying financial statements of HealthSource Chiropractic, LLC, which comprise the balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of income and comprehensive income, members' and stockholders' equity, and cash flows for the years 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 HealthSource Chiropractic, LLC as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
Based on the 2025 Healthsource Chiropractic Franchise Disclosure Document, there is no specific mention of the 'funded status' (either funded or unfunded) of Healthsource Chiropractic in 2022. However, the document does include financial statements audited by an independent auditor, covering the years 2022, 2023, and 2024. These statements include balance sheets, income statements, statements of cash flow, and statements of member's and stockholders' equity.
The independent auditor's report states that the financial statements of Healthsource Chiropractic, LLC present fairly the company's financial position as of December 31, 2022, 2023, and 2024. This suggests that the company was operational and had financial activity during that time. The audit was conducted according to generally accepted auditing standards in the United States.
While the FDD provides these audited financial statements, it does not explicitly state whether Healthsource Chiropractic was 'funded' or 'unfunded' in 2022. A prospective franchisee should directly ask Healthsource Chiropractic for clarification on their funding status and what that implies about the financial health and stability of the company during that period. Understanding the funding situation can provide valuable insight into the company's ability to support its franchisees and manage its own growth.