Where can the outline for the itemized revenue report be found for an Afuri Ramen Dumpling franchise?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
See independent auditors' report
Exhibit B to Afuri Franchise Disclosure Document
FRANCHISE AGREEMENT AFURI FRANCHISE INC.
923 SE 7th Ave. Portland, Oregon 97214 (971) 386-2945
T A B L E O F C O N T E N T S
1 GRANT OF FRANCHISE AND FRANCHISE TERRITORY
- 1.1 Grant of Franchise and Franchise Territory
- 1.2 One Location for Franchise
- 1.3 Assistance in Site Location
- 1.4 Franchise Development
- 1.5 Relocation of the Franchise
- 1.6 Existence of Divergent Forms of Franchise Contracts
- 1.7 Rights We Reserve
- 1.8 Nonexclusive
- 1.9 Pricing
2 PAYMENT OF FEES AND OTHER FINANCIAL REQUIREMENTS
- 2.1 Initial Franchise Fee
- 2.2 Royalty Fee
- 2.3 Advertising Fee
- 2.4 Automatic Withdrawal
- 2.5 Advertising Standards
- 2.6 "Revenue" Defined
- 2.7 You Will Pay Taxes and Indebtedness
- 2.8 Fees to Be Paid Promptly; Late Charges
- 2.9 Records and Reports
- 2.10 Audits
- 2.11 You are to Pay a
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, the table of contents in Exhibit B outlines the items required in the revenue reports. Exhibit B is the franchise agreement. Section 2.9 of the franchise agreement covers records and reports, which would include the itemized revenue report. Franchisees must maintain accurate records and provide regular reports to Afuri Ramen Dumpling as part of their franchise obligations.
Maintaining accurate and detailed revenue reports is a standard requirement in franchising. This allows Afuri Ramen Dumpling to calculate royalty fees accurately and monitor the financial performance of each franchise location. The reports also help the franchisor identify trends, provide support, and ensure compliance with the franchise agreement.
Prospective franchisees should carefully review Section 2.9 of the franchise agreement (Exhibit B) to understand the specific requirements for record-keeping and reporting. It is important to clarify any uncertainties with Afuri Ramen Dumpling during the due diligence process to ensure full compliance and avoid potential disputes in the future.