As of what date are the unaudited financial statements for Punch King Fitness?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
The franchisor has not been in business for three years or more; and, therefore, cannot include all financial statements required.
THESE FINANCIAL STATEMENTS ARE PREPARED WITHOUT AN AUDIT. PROSPECTIVE FRANCHISEES OR SELLERS OF FRANCHISES SHOULD BE ADVISED THAT NO CERTIFIED PUBLIC ACCOUNTANT HAD AUDITED THESE FIGURES OR EXPRESSED HIS/HER OPINION WITH REGARD TO THE CONTENT OR FORM.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, the franchisor has not been in business for three years or more and therefore cannot include all required financial statements. The FDD states that the financial statements included are prepared without an audit. The document further advises prospective franchisees to be aware that no Certified Public Accountant has audited these figures or expressed an opinion regarding their content or form.