When is the deadline for an Angry Chickz franchisee to submit the unaudited annual financial statement?

According to Angry Chickz's 2025 Franchise Disclosure Document, franchisees must submit an unaudited annual financial statement to the company within 120 days following the end of each calendar year or other fiscal period designated by Angry Chickz. This statement must be prepared in accordance with generally accepted accounting principles and be in a form reasonably required by Angry Chickz. Additionally, an officer of the franchise must certify that the statement is accurate and complete.

This requirement ensures that Angry Chickz has a clear and consistent view of each franchise's financial performance. By setting a specific deadline, Angry Chickz can efficiently collect and analyze financial data from all its franchisees. The 120-day window provides franchisees with sufficient time to compile their annual financials after the close of the year.

The financial statement needs to be prepared according to generally accepted accounting principles, which ensures a standardized format for all franchisees. This makes it easier for Angry Chickz to compare financial performance across different locations and identify any potential issues or areas for improvement. The certification by a franchise officer adds an extra layer of accountability, confirming the accuracy and completeness of the submitted information.

It is important for prospective Angry Chickz franchisees to understand this reporting requirement and ensure they have the necessary accounting systems and processes in place to meet the deadline. Failure to submit the financial statement on time or in the required format could potentially lead to penalties or other consequences as outlined in the franchise agreement.