When must Best Brains franchisees furnish a copy of their bank statement?

According to Best Brains' 2025 Franchise Disclosure Document, franchisees are required to submit a copy of their bank statement to Best Brains on a monthly basis. Specifically, this must be done by the 10th of each month, and the statement should cover the previous month's activity. For example, the bank statement provided on July 10th would cover the period from June.

This requirement allows Best Brains to monitor the financial health of its franchisees and ensure that royalty fees and other payments are being made correctly and on time. It is a standard practice in franchising for franchisors to request financial information from franchisees to protect the brand and ensure compliance with the franchise agreement.

Failure to provide the bank statement or other required reports on time could potentially lead to Best Brains estimating the franchisee's gross sales and debiting any unpaid royalty fees or advertising contributions via electronic funds transfer. Franchisees should, therefore, ensure that they adhere to the reporting schedule to avoid any such actions.