Where can I find information about Bojangles' finance reporting and payment requirements?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
r of the Franchised Business during the term hereof, showing the results of operations of the Franchised Business during said fiscal year. Franchisee's chief financial officer shall attest that the financial statements present fairly the financial position of Franchisee and the results of operations of the Franchised Business during the period covered. Franchiser shall have the right, in its reasonable discretion, to require that Franchisee submit audited statements for any fiscal year or any period or periods of a fiscal year of Franchisee during the term of this Agreement, and to require Franchisee to cause its independent certified public accountant to consult with Franchisor, at Franchisee's expense, concerning the financial statements provided by Franchisee.
- E. Franchisee and its shareholders shall also submit to Franchisor, for review or auditing, such other forms, reports, records, information, and data as Franchisor may reasonably designate, in the form and at the times and places reasonably required by Franchisor, upon request and as specified from time to time in the Manual or otherwise in writing.
- F. Franchisor or its designated agents shall have the right at all reasonable times to examine and copy, at Franchisor's expense, the books, records, and tax returns of Franchisee. Franchisor shall also have the right, at any time, to have an independent audit made of the books of Franchisee. If an inspection should reveal that any payments have been understated in any report to Franchisor, then Franchisee shall immediately pay to Franchisor the amount understated upon demand, in addition to interest from the date such amount was due until paid, at one and one-half percent (1½%) per month compounded monthly, or the maximum rate permitted by law, whichever is less. If an inspection discloses an understatement in any report of five percent (5%) or more, Franchisee shall, in addition, reimburse Franchisor for any and all costs and expenses connected with the inspection (including, without limitation, reasonable accounting and attorneys' fees). The foregoing remedies shall be in addition to any other remedies Franchisor may have.
XI.
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles' 2025 Franchise Disclosure Document, Item 22 outlines the financial reporting and payment requirements for franchisees. Specifically, the franchisee's chief financial officer must attest to the accuracy of the financial statements. Bojangles has the right to request audited statements from the franchisee for any fiscal year and can require the franchisee's accountant to consult with them, with the franchisee bearing the expense.
Bojangles also requires franchisees to submit other forms, reports, records, information, and data for review or auditing, as specified in the manual or in writing. Bojangles or its agents have the right to examine and copy the franchisee's books, records, and tax returns at reasonable times, at Bojangles' expense. Additionally, Bojangles can conduct independent audits of the franchisee's books.
If an inspection reveals that payments have been understated, the franchisee must immediately pay the understated amount plus interest of one and one-half percent (1½%) per month compounded monthly, or the maximum rate permitted by law, whichever is less. If the understatement is five percent (5%) or more, the franchisee must also reimburse Bojangles for all costs associated with the inspection, including accounting and attorneys' fees. These remedies are in addition to any other remedies Bojangles may have.