How often can a Bang Cookies franchisee request an unaudited accounting of the Brand Development Fund?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
The Brand Development Fund will maintain unaudited financial records detailing its expenditures and will make available to you, no more frequently than one time in any 12 month period, an unaudited accounting of how monies contributed to the Brand Development Fund were spent each year.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 29–36)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, a franchisee can request an unaudited accounting of the Brand Development Fund (BDF) no more than once in any 12-month period. This accounting will detail how the monies contributed to the BDF were spent each year.
Bang Cookies or its affiliates may also contribute to the Brand Development Fund, but they are not required to do so. The funds are used for various purposes, including market studies, research, advertising, and administrative costs. Bang Cookies is not obligated to segregate the BDF from its general operating funds and is not considered a fiduciary or trustee of the BDF.
The Brand Development Fund will not be used to directly promote an individual franchisee's shop or its specific marketing area. The fund is uniformly imposed upon all franchisees. This means that all franchisees contribute to the fund under the same terms, but the benefits from the fund's activities may vary among franchisees.