What is the deadline for a Best Brains franchisee to submit a profit and loss statement each month?

According to Best Brains's 2025 Franchise Disclosure Document, franchisees are required to submit a profit and loss statement each month. Specifically, Best Brains requires that on the 10th of each month, franchisees must submit a profit and loss statement for the preceding calendar month. They must also submit a year-to-date profit and loss statement and balance sheet.

This monthly reporting requirement ensures that Best Brains has a consistent and timely view of each franchise's financial performance. This allows them to monitor the overall health of the franchise system and identify any potential issues early on. It also enables Best Brains to provide support and guidance to franchisees who may be struggling.

In addition to the monthly profit and loss statement, Best Brains also requires franchisees to submit other financial reports on the 10th of each month, including an electronic report of gross sales for the period of the 11th of the previous month to the 10th of the current month, a copy of the bank statement for the previous month, and a copy of the payment report from the payment processing service for the period of the 11th of the previous month to the 10th of the current month. Franchisees must also submit a calendar year-end balance sheet and an annual profit and loss statement within seventy-five days after the end of each calendar year.

Submitting timely and accurate financial reports is a critical obligation for Best Brains franchisees. Failure to do so could result in penalties or other consequences as outlined in the franchise agreement. Prospective franchisees should carefully review these reporting requirements and ensure they have the systems and processes in place to meet them.