What financial reports must a Bumble Roofing franchisee furnish to the franchisor monthly?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee $55 per hour for additional assistance, which Franchisor may increase at any time upon notice to you to be up to $100 per hour of additional assistance.
- 6.3 Franchisee shall furnish to Franchisor such reports as Franchisor may require from time to time. Franchisee grants Franchisor the right to disclose all financial data submitted to Franchisor. Without limiting the generality of the foregoing, Franchisee shall furnish to Franchisor in the form Franchisor requires periodically (which will include a chart of accounts prescribed by Franchisor) and together with such detail and breakdown and copies of supporting records as Franchisor may from time to time require:
- (a) within ten (10) days after the end of each month, beginning with January 1st, a balance sheet and profit and loss statement for the Business for the preceding month;
- (b) within thirty (30) days after the end of each fiscal year of the Business, financial statements for the Business, including a balance sheet, profit and loss statement, a change in cash position statement and a statement of retained earnings for such period;
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, franchisees are required to submit specific financial reports to the franchisor on a monthly basis. Specifically, within ten days after the end of each month, starting January 1st, a franchisee must furnish a balance sheet and profit and loss statement for the Bumble Roofing business covering the preceding month. These reports must be in a format prescribed by Bumble Roofing, which includes a chart of accounts also specified by the franchisor.
In addition to these standard financial reports, Bumble Roofing franchisees must also provide proof of their Individual Advertising Investment on a monthly basis, using the format required by the franchisor. The Individual Advertising Investment refers to the amount spent on promotional advertising within the franchisee's territory. During the first 12 months of operation, this investment must be a minimum of $65,000, plus an additional $15,000 for each additional contiguous territory. After the first year, the franchisee must spend the greater of that initial amount or 5% of the prior year's Gross Revenues.
These reporting requirements ensure that Bumble Roofing maintains a clear understanding of each franchisee's financial performance and advertising efforts. Franchisees should be prepared to diligently track and report this information to remain in compliance with the franchise agreement. The franchisor also has the right to disclose all financial data submitted to them.