What form must a B Bops franchisee use to submit their profit and loss statement?
B_Bops Franchise · 2025 FDDAnswer from 2025 FDD Document
Each royalty payment shall be accompanied by a gross sales report prepared in a format prescribed by Company.
Within thirty (30) days of the close of each calendar month during the Term hereof, Franchisee shall complete, execute and deliver to Company, on forms specified and provided by Company, a complete and accurate profit and loss statement for such calendar month.
Franchisee shall additionally submit to Company a copy of all federal income tax returns covering the operations of the Franchise within thirty (30) days of the filing thereof with the Internal Revenue Service.
Company reserves the right to modify the reporting obligations of Franchisee as set forth herein and to implement alternative methods of reporting.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to B Bops' 2025 Franchise Disclosure Document, franchisees must complete, execute, and deliver a profit and loss statement to B Bops within thirty days of the close of each calendar month. These statements must be submitted on forms that B Bops specifies and provides.
In addition to the monthly profit and loss statements, B Bops franchisees must also submit a copy of all federal income tax returns covering the operations of the franchise. This submission must occur within thirty days of filing with the Internal Revenue Service.
B Bops retains the right to modify these reporting obligations and implement alternative reporting methods. This means that the specific forms or methods could change during the term of the franchise agreement, so franchisees need to stay updated on any changes B Bops implements.