Are the Punch King Fitness financial statements audited as of June 31, 2024?

According to the 2024 Punch King Fitness 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 explicitly states that the financial statements included are prepared without an audit.

This means that the financial statements provided in the FDD have not been reviewed or verified by an independent certified public accountant. Prospective franchisees should be aware that the financial information presented has not been subjected to the scrutiny of an audit, which could reveal inaccuracies or inconsistencies.

Given this, Punch King Fitness advises prospective franchisees or sellers of franchises that no certified public accountant has audited these figures or expressed an opinion regarding the content or form of the financial statements. This lack of independent verification increases the risk that the financial information may not accurately reflect the company's financial condition. It is crucial for potential franchisees to carefully review these unaudited statements and consider seeking professional financial advice before making any investment decisions.