What is the Brightstar Care franchisee's obligation regarding accounting forms and systems?

According to the 2025 Brightstar Care Franchise Disclosure Document, franchisees must submit annual financial statements to Brightstar Franchising, LLC. Specifically, within 45 days after the close of the franchisee's fiscal year, they must provide financial statements. These statements must include a statement of income and retained earnings, a statement of changes in financial position, and a balance sheet, all as of the end of the fiscal year. The franchisee must also certify these statements as true and correct.

This requirement ensures that Brightstar Care has access to accurate and timely financial information from its franchisees. This allows Brightstar Care to monitor the financial health of individual franchise locations and the overall performance of the franchise system. It also helps Brightstar Care to ensure that franchisees are complying with the terms of the franchise agreement.

For a prospective Brightstar Care franchisee, this means they will need to maintain accurate and up-to-date financial records and be prepared to share them with Brightstar Care on an annual basis. They should factor in the time and cost associated with preparing these financial statements, which may require the assistance of an accountant or other financial professional. Failing to submit these statements on time or providing inaccurate information could result in penalties or other consequences under the franchise agreement.