Who is the auditing firm for Black Bear Diner's financial statements?
Black_Bear_Diner Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee acknowledges that the Marketing Fund is not a trust and Franchisor assumes no fiduciary duty in administering the Marketing Fund.
11.3 Grand Opening Advertising
Source: Item 23 — RECEIPT (FDD pages 56–243)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the excerpts provided do not contain the name of the auditing firm for Black Bear Diner's financial statements. While Item 23 discusses the National Advertising Fund and mentions that an annual accounting of the Marketing Fund may include an audit by an independent certified public accountant, it does not specify which firm performs the audit.
Without this information, prospective franchisees cannot assess the independence and reputation of the firm vouching for Black Bear Diner's financial health. Knowing the auditor allows for investigation into their qualifications and any potential conflicts of interest.
To obtain this information, a prospective Black Bear Diner franchisee should directly ask the franchisor for the name and contact information of the auditing firm that reviews their financial statements. This request can be made during the due diligence process, allowing the franchisee to further investigate the financial stability and reporting practices of the Black Bear Diner franchise.