How often must a Big Air Trampoline Park franchisee prepare profit and loss statements?
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 the 2025 FDD, a Big Air Trampoline Park franchisee must prepare profit and loss statements at least quarterly. These statements must be prepared by an independent Certified Public Accountant (CPA). This requirement ensures that the franchisee maintains accurate and up-to-date financial records for their Big Air Trampoline Business.
In addition to the profit and loss statements, Big Air Trampoline Park franchisees are also required to prepare statements of Gross Revenues each month and balance sheets at least annually, also by an independent CPA. These financial documents, along with tax returns and daily reports, must be maintained using an accounting system that accurately reflects all operational aspects of the business. The franchisor may also request current financial statements and other reports to evaluate performance data.
Big Air Trampoline Park requires franchisees to use a specific accounting system and pre-formatted templates, if provided by the franchisor. Franchisees must also advise Big Air Trampoline Park of the location of all original financial documents and cannot destroy any records without written consent from the franchisor. These comprehensive reporting requirements enable Big Air Trampoline Park to monitor the financial health and performance of its franchisees, while also ensuring compliance with accounting standards.