What serves as evidence of a Bombs Away franchisee's order for private retail consumers?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
- 10.4 Business Records. Franchisee shall keep complete and accurate books and records reflecting all expenditures and receipts of the Business, with supporting documents (including, but not limited to, payroll records, payroll tax returns, register receipts, production reports, sales invoices, bank statements, deposit receipts, cancelled checks and paid invoices) for at least three years.
Franchisee shall keep such other business records as Bombs Away Franchising may specify in the Manual or otherwise in writing.
- 10.5 Records Audit. Bombs Away Franchising may examine and audit all books and records related to the Business, and supporting documentation, at any reasonable time.
Bombs Away Franchising may conduct the audit at the Location and/or require Franchisee to deliver copies of
Source: Item 22 — CONTRACTS (FDD pages 35–36)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, franchisees are required to maintain complete and accurate books and records that reflect all expenditures and receipts of the business. These records must be supported by documentation, including register receipts, sales invoices, and bank statements, and must be kept for at least three years.
Bombs Away franchisees must also keep any other business records that Bombs Away Franchising specifies in the Manual or in writing. Bombs Away Franchising retains the right to examine and audit all books and records related to the business, along with supporting documentation, at any reasonable time. This audit can occur at the franchisee's location or require the franchisee to deliver copies of the documents to a location designated by Bombs Away Franchising.
Franchisees may be responsible for reimbursing Bombs Away Franchising for all costs and expenses associated with an examination or audit if the audit was conducted due to the franchisee's failure to submit required reports or non-compliance with the Bombs Away system. Reimbursement may also be required if the audit reveals that the franchisee understated gross sales by 3% or more for any month. These detailed record-keeping and audit provisions ensure transparency and compliance within the Bombs Away franchise system.