What kind of reports must a Bft Developer furnish to the Franchisor monthly?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
Developer must keep accurate records concerning all transactions and written communications between Franchisor and Developer relating to its activities under this Agreement. Franchisor's duly authorized representative has the right, following reasonable notice, at all reasonable hours of the day to examine all Developer's records with respect to the subject matter of this Agreement, and has full and free access to records for that purpose and for the purpose of making extracts. All records must be kept available for at least three (3) years after preparation. Developer must furnish to Franchisor monthly written reports regarding Developer's progress on its compliance with the Development Schedule and in satisfaction of its other obligations under this Agreement.
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 57–66)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, a Bft Developer is required to furnish monthly written reports to the Franchisor. These reports must detail the Developer's progress on complying with the Development Schedule and fulfilling other obligations outlined in the Development Agreement.
This requirement ensures that Bft can monitor the Developer's adherence to the agreed-upon development plan and assess their overall performance. The reports provide Bft with insights into whether the Developer is on track with opening new studio locations and meeting other contractual requirements.
For a prospective Bft Developer, this means they must establish a system for tracking and documenting their progress on various aspects of the development schedule and other obligations. This may involve compiling data on site selection, lease negotiations, construction timelines, and other relevant activities. Failing to provide these reports or demonstrating insufficient progress could potentially lead to issues with Bft and possible breach of contract.
Furthermore, Bft retains the right to examine all of the Developer's records related to the agreement, with reasonable notice, to ensure accuracy and compliance. These records must be kept available for at least three years after preparation.