How often must a Big Air Trampoline Park franchisee prepare balance sheets, and who must prepare them?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
- 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).
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to Big Air Trampoline Park's 2025 Franchise Disclosure Document, franchisees are required to prepare balance sheets at least annually. These balance sheets must be prepared by an independent Certified Public Accountant (CPA). This requirement ensures that the financial reporting is objective and accurate.
In addition to balance sheets, Big Air Trampoline Park franchisees must also prepare statements of Gross Revenues each month and profit and loss statements at least quarterly. The profit and loss statements must also be prepared by an independent Certified Public Accountant. Franchisees must maintain an accounting system that accurately reflects all operational aspects of the Big Air Trampoline Business, including uniform reports as required by the franchisor.
These financial records, including tax returns, daily reports, and other relevant documents, must be maintained according to the franchisor's directions, as outlined in the Operations Manual. Franchisees must also advise Big Air Trampoline Park of the location of all original documents and must not destroy any records without the franchisor's written consent. Franchisees are also obligated to submit current financial statements and other reports to Big Air Trampoline Park as reasonably requested to evaluate or compile research and performance data.