How often will Better Blend prepare a financial statement for the Marketing Fund?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
We will administer the Marketing Fund (Section 5.3). We will prepare an unaudited annual financial statement of the Marketing Fund within 120 days of the close of our fiscal year and will provide the financial statement to you upon written request. (Section 9.3)
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 21–27)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, Better Blend will prepare an unaudited annual financial statement regarding the Marketing Fund. This statement will be completed within 120 days of the close of Better Blend's fiscal year.
This means that franchisees will receive a financial statement each year, detailing the income and expenses of the Marketing Fund. However, the statement is unaudited, meaning it has not been reviewed by an independent accounting firm.
Better Blend will provide the financial statement to franchisees only upon written request. It is common practice for franchisors to provide regular updates on marketing fund activity to franchisees, as the franchisees contribute to the fund. Franchisees may want to proactively request this statement annually to stay informed about how the marketing funds are being managed and spent.