What certification must a Benihana franchisee submit along with each report required under Article 8?

According to Benihana's 2024 Franchise Disclosure Document, along with each report required under Article 8, a franchisee must submit a certificate. This certificate must be executed by the franchisee and confirm that the financial statement included in the report is true and accurate. The certificate should also include any other information in the form that Benihana may reasonably require.

Article 8 outlines the books, records, and reports that a Benihana franchisee must maintain and submit to Benihana. This includes monthly gross sales statements, profit and loss statements, POS sales reports, annual unaudited financial statements, copies of operating reports submitted to the landlord, and copies of state and federal income tax returns.

This requirement ensures that Benihana receives accurate and reliable financial information from its franchisees, which is essential for calculating royalties, advertising contributions, and assessing the overall financial health of the franchise system. The franchisee's certification adds an extra layer of accountability and helps to prevent errors or misrepresentations in the reported data. Prospective franchisees should be aware of these reporting obligations and ensure they have the necessary accounting systems and expertise in place to comply with Benihana's requirements.