What is included in the ongoing Accounting and Business Advisory Services offered by 360 Painting?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 11: FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING]
Accounting and Business Advisory Services
You must use our in-house Accounting and Business Advisory Services for your Business and pay our related fees for at least the first 12 calendar months following the opening of the Business. See Item 6. The service offering includes prelaunch accounting setup and ongoing monthly accounting and business advisory support. Pre-opening Accounting and Business Advisory Services includes assistance creating the chart of accounts and recording prelaunch expenses in the Quickbooks Online account you set up. Ongoing Accounting and Business Advisory Services include recording of revenue and expense transactions into the Quickbooks Online account, monthly bank account reconciliations, financial statement preparation and participation in periodic coaching sessions. After your Business has been open for at least 12 months, you may opt out of our Accounting and Business Advisory Services so long as you contract with an approved third-party vendor to provide similar accounting and business advisory services to the Business during the remainder of the initial term of your Franchise Agreement.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 27–38)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, franchisees must use 360 Painting's in-house Accounting and Business Advisory Services for at least the first 12 calendar months after opening their business. The ongoing services include recording revenue and expense transactions into the franchisee's Quickbooks Online account, performing monthly bank account reconciliations, preparing financial statements, and participating in periodic coaching sessions.
This mandatory use of 360 Painting's accounting services for the first year ensures that franchisees start with proper financial management and adhere to 360 Painting's standards. It also provides 360 Painting with real-time financial data from all franchise locations, which can be used to benchmark performance and identify areas for improvement.
After the initial 12 months, franchisees have the option to opt out of 360 Painting's services, but they must then contract with an approved third-party vendor to provide similar accounting and business advisory services for the remainder of their franchise agreement term. This ensures continued compliance and financial oversight, even if the franchisee chooses an alternative provider. This flexibility allows franchisees to potentially find more cost-effective solutions or vendors that better suit their specific needs after gaining initial experience with 360 Painting's system.