When must an Angry Chickz franchisee submit an unaudited annual financial statement?

According to Angry Chickz's 2025 Franchise Disclosure Document, franchisees are required to 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.

The purpose of this requirement is to provide Angry Chickz with a comprehensive overview of the franchisee's financial performance over the past year. This allows Angry Chickz to assess the financial health of individual franchise locations and to develop a better understanding of the overall performance of the franchise system. The financial statement must be in a form reasonably required by Angry Chickz and certified by an officer of the franchisee to be accurate and complete.

This requirement is a standard practice in franchising, as it allows the franchisor to monitor the financial performance of its franchisees and ensure compliance with the franchise agreement. Franchisees should ensure they maintain accurate financial records throughout the year to facilitate the preparation of the annual financial statement. Failing to submit the statement on time or providing inaccurate information could result in penalties or other consequences as outlined in the franchise agreement.