When is the deadline for an All Team franchisee to submit their annual income statement and balance sheet?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
ir ownership interest of such item to ATFC. FRANCHISEE agree to take, or direct FRANCHISEE's owners, affiliates, employees or representatives to take, whatever action required by ATFC to document such assignment or to assist ATFC in obtaining any and all intellectual property rights in such item.
- L. Financial Reports. FRANCHISEE agrees to furnish to ATFC the following described reports at the times designated below on forms required by law or prescribed and furnished by ATFC, as appropriate:
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- On an annual basis within 45 days after the end of each fiscal year, a copy of the Agency's income statement and balance sheet for the fiscal year and certification that all required tax reporting and related returns have been completed.
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Source: Item 22 — CONTRACTS (FDD pages 33–34)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, franchisees must furnish a copy of their agency's income statement and balance sheet to All Team on an annual basis. This report must be submitted within 45 days after the end of each fiscal year.
In addition to the annual reports, All Team franchisees are also required to submit monthly income reports showing all Permanent Placement Gross Billings for the preceding month by the fifteenth (15th) day of each month. They must also submit weekly reports for all Temporary Employment Gross Billings for the preceding week by each Wednesday at noon.
These financial reporting requirements are typical in franchising, allowing All Team to monitor the financial health and performance of its franchise locations. Franchisees should ensure they maintain accurate and up-to-date financial records to meet these deadlines and comply with the franchise agreement.