What specific financial statements must Beggars Pizza franchisees submit monthly?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
- 11.2 Other Reports.
Franchisee must, at Franchisee's expense, submit to Franchisor in the form prescribed by Franchisor, within fifteen (15) days after the close of each month, unaudited financial statements showing the results of operations of the Restaurant during the preceding calendar month including, without limitation, a complete and accurate profit and loss statement and balance sheet, and such other forms, reports, records, information, and data as Franchisor may reasonably designate.
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Beggars Pizza Franchise Disclosure Document, franchisees are required to submit unaudited financial statements to Beggars Pizza within fifteen days after the close of each month. These statements must detail the restaurant's operational results for the preceding calendar month.
The specific financial statements required include a complete and accurate profit and loss statement and a balance sheet. Additionally, franchisees must submit any other forms, reports, records, information, and data that Beggars Pizza may reasonably designate. This allows Beggars Pizza to monitor the financial health and performance of each franchise unit.
This requirement is fairly standard in the franchise industry, as it allows the franchisor to maintain oversight and provide support to franchisees. It is crucial for prospective franchisees to understand these reporting requirements and ensure they have the systems in place to accurately track and report their financial data to Beggars Pizza on a timely basis. Failure to comply with these requirements could potentially lead to penalties or other consequences as outlined in the franchise agreement.