What kind of accounting system is a Big Air Trampoline Park franchisee required to use?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
6. ACCOUNTING, RECORDS, AUDITS AND LATE PAYMENT CHARGES
- 6.1 Franchisee shall keep such complete records of its Big Air Trampoline Business as a prudent and careful businessperson would normally keep. Franchisee must use the accounting system and the pre-formatted template required by Franchisor, if any. Franchisee shall keep its financial books and records as Franchisor may from time to time direct in the Operations Manual or otherwise, including retention of all invoices, order forms, payroll records, cash register tapes, check records, bank deposit receipts, sales tax records, refunds, cash disbursements, journals and general ledgers. Franchisee shall advise Franchisor of the location of all original documents and shall not destroy any records without the written consent of Franchisor.
- 6.2 Franchisee shall prepare on a current basis, complete and accurate records concerning all financial, marketing and other operating aspects of the Big Air Trampoline Business conducted under this Agreement. Franchisee shall maintain an accounting system which accurately reflects all operational aspects of the Big Air Trampoline Business including uniform reports as may be required by Franchisor. Franchisee's records shall include tax returns, daily reports, statements of Gross Revenues (to be prepared each month for the preceding month), profit and loss statements (to be prepared at least quarterly by an
independent Certified Public Accountant), and balance sheets (to be prepared at least annually by an independent Certified Public Accountant).
- 6.3 Franchisee shall also submit to Franchisor current financial statements and other reports as Franchisor may reasonably request to evaluate or compile research and performance data on any operational aspect of the Big Air Trampoline Business.
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 Big Air Trampoline Park Franchise Disclosure Document, franchisees must maintain complete records of their Big Air Trampoline Business, as would be expected of a prudent businessperson. Franchisees are obligated to use the accounting system and pre-formatted template that Big Air Trampoline Park requires, if any. They must also maintain financial books and records as directed in the Operations Manual, including invoices, order forms, payroll records, cash register tapes, check records, bank deposit receipts, sales tax records, refunds, cash disbursements, journals, and general ledgers. Franchisees must inform Big Air Trampoline Park of the location of all original documents and cannot destroy any records without written consent.
Big Air Trampoline Park franchisees must prepare complete and accurate records concerning all financial, marketing, and other operating aspects of their business. They must maintain an accounting system that accurately reflects all operational aspects, including uniform reports required by Big Air Trampoline Park. Records must include tax returns, daily reports, statements of Gross Revenues (prepared monthly), profit and loss statements (prepared quarterly by an independent Certified Public Accountant), and balance sheets (prepared annually by an independent Certified Public Accountant).
Furthermore, franchisees are required to submit current financial statements and other reports to Big Air Trampoline Park as reasonably requested to evaluate or compile research and performance data on any operational aspect of the Big Air Trampoline Business. This ensures that Big Air Trampoline Park can monitor the financial health and operational effectiveness of its franchises, while also maintaining consistency across all locations.