Who must sign the annual financial statements for an All County franchise?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
18.1.4. Annual Financial Statements. You agree to provide us, within ninety (90) days after the end of the Business' fiscal year, reviewed annual profit and loss and source and use of funds statements and a reviewed balance sheet for the Business as of the end of such fiscal year signed by you or your principal operating officer or operating partner.
18.2. Verification. You agree to verify and sign each report and financial statement in the manner we prescribe.
We have the right to disclose data derived from such reports without identifying you or the location of the Business.
We also have the right to require you to have reviewed or audited financial statements prepared on an annual basis at your expense by an independent third party.
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, the franchisee, their principal operating officer, or operating partner must sign the reviewed annual profit and loss and source and use of funds statements and a reviewed balance sheet for the business. These statements must be provided to All County within ninety (90) days after the end of the business's fiscal year.
This requirement ensures that All County receives verified financial information from its franchisees. By having the franchisee or a principal representative sign the statements, All County holds them accountable for the accuracy and completeness of the reported financial data. This allows All County to monitor the financial health of its franchise locations and ensure compliance with the franchise agreement.
In addition to the annual financial statements, All County requires franchisees to provide monthly financial statements, sales records, and revenue statements. Franchisees must also provide copies of federal and state income and other tax returns within ten days of filing. All County also has the right to access the franchisee's computer systems and data to retrieve information related to the business's operations. These requirements enable All County to maintain a comprehensive view of each franchise's performance and ensure consistency across the All County system.
All County also has the right to require franchisees to have reviewed or audited financial statements prepared on an annual basis at the franchisee's expense by an independent third party. Franchisees must also verify and sign each report and financial statement in the manner prescribed by All County.