Does the table specify a concrete value for 'Total operating expenses' for Punch King Fitness?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
17 Beresford Court Williamsville, NY 14221 Tel: (716) 634-7253 Fax; (716) 634-0952 Email: jimdry@wddcpas.com Email: jaydry@wddcpas.com
Website: www.wddcpas.com
Independent Auditor's Report
To the Board of Directors and Shareholders Punch King Fitness, Inc.
Opinion
We have audited the accompanying financial statements of Punch King Fitness Inc., which comprise the balance sheet as of December 31, 2022, and the related statements of income and retained earnings 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 Punch King Fitness, Inc. as of December 31, 2022, 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.
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
I am unable to provide a concrete value for 'Total operating expenses' for Punch King Fitness, as the provided excerpts from the 2024 FDD do not contain a table or specific line item detailing this information. The excerpts focus on contracts, fees, development schedules, and some financial statement information, but lack the specific breakdown of operating expenses that a prospective franchisee would need to assess the financial viability of the franchise.
While the excerpts include an Independent Auditor's Report and mention financial statements, they do not present the actual figures for operating expenses. The excerpts do mention a performance standard of $20,000 Total Revenue per month, but this is a revenue target, not an expense figure. The FDD excerpts also discuss the franchisee's responsibility for paying liabilities and taxes, which are components of operating expenses, but do not provide a total figure.
To obtain the 'Total operating expenses', a prospective Punch King Fitness franchisee should specifically request the complete financial statements from the franchisor. This would include the income statement, which details revenues and all operating expenses, allowing for a comprehensive understanding of the franchise's cost structure. Understanding these expenses is critical for projecting profitability and managing the business effectively.