When must an Anago Subfranchisor submit annual audited financial statements to the Franchisor?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
Annual Financial Statements. We may request that You prepare and submit an annual balance sheet and income statement, within 90 days of the end of the fiscal year prepared in accordance with Generally Accepted Accounting Principles. Each annual statement must be accompanied by an unqualified review opinion from an independent certified public accountant acceptable to Us, and must be signed by You or by Your Treasurer or Chief Financial Officer attesting that the financial statements are correct and fairly present Your financial position at and for the times indicated. You will also supply to Us, if requested, copies of Your federal and state income tax returns at the time these returns are filed with the appropriate tax authorities. The financial statements and/or other periodic reports described above must be prepared to segregate the income and related expenses of the Anago Unit Franchise from those of any other business that You conduct.
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, Anago may request that a Subfranchisor prepare and submit an annual balance sheet and income statement. This must be done within 90 days of the end of the fiscal year. These financial documents must adhere to Generally Accepted Accounting Principles.
Each annual statement needs to be accompanied by an unqualified review opinion from an independent certified public accountant acceptable to Anago. The statement must also be signed by the Subfranchisor or their Treasurer or Chief Financial Officer, confirming that the financial statements are correct and fairly represent the Subfranchisor's financial position at the indicated times.
Additionally, Anago may request copies of the Subfranchisor's federal and state income tax returns at the time they are filed with the appropriate tax authorities. The financial statements and other periodic reports must separate the income and related expenses of the Anago Unit Franchise from any other business the Subfranchisor conducts. This ensures transparency and accurate financial reporting to Anago.