What reports must Azal Coffee franchisees provide from their insurance carriers?

Based on the 2024 Franchise Disclosure Document, the specific reports that Azal Coffee franchisees must provide from their insurance carriers are not detailed in the provided excerpts. However, the FDD does state that Azal Coffee has the right to acquire a cyber insurance policy for the Azal Coffee franchise system and require franchisees to pay a portion of the cost.

While the FDD does not explicitly list required insurance reports, it does outline general reporting requirements. Franchisees must submit complete statements of Gross Sales and other information specified by Azal Coffee, along with copies of sales tax returns, annual income tax returns, monthly profit and loss statements, balance sheets, inventory statements, and annual financial statements. These must be submitted within fifteen days of the end of each month for monthly reports, and within thirty days of the end of the fiscal year for annual reports.

Prospective Azal Coffee franchisees should inquire with the franchisor about the specific insurance policies they are required to maintain and the reports that must be submitted from their insurance carriers. Understanding these requirements is crucial for budgeting and ensuring compliance with the franchise agreement. It is also important to understand how these costs are determined and collected, as mentioned in Section 4.13 of the agreement.