When must a Bumble Roofing franchisee submit a monthly balance sheet and profit and loss statement?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
- 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; and
(c) within thirty (30) days of April 15th of each year, a true copy of all tax returns, schedules and reports filed by Franchisee for income, corporate, sales tax, employer health tax, or workers compensation purposes.
- 6.4 Franchisee shall also submit to Franchisor a copy of its financial statements and other reports as Franchisor may reasonably request to evaluate or compile research and performance data on any operational aspect of the Business.
Franchisee shall submit proof of its Individual Advertising Investment (as defined in Section 11.1), in the format required by Franchisor, on a monthly basis.
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 furnish financial reports to the franchisor. Specifically, a Bumble Roofing franchisee must submit a balance sheet and profit and loss statement for their business for the preceding month within ten (10) days after the end of each month, starting with January 1st. These reports must be in the format that Bumble Roofing requires, including a chart of accounts prescribed by the franchisor, along with any detailed breakdowns and supporting records that Bumble Roofing may request.
This requirement allows Bumble Roofing to monitor the financial performance of its franchisees on a regular basis. It also grants Bumble Roofing the right to disclose all financial data submitted to them. This level of financial oversight is typical in franchising, as it helps the franchisor ensure brand consistency and financial stability across the franchise system.
In addition to the monthly reports, Bumble Roofing franchisees must also provide annual financial statements within thirty (30) days after the end of each fiscal year, including a balance sheet, profit and loss statement, a change in cash position statement, and a statement of retained earnings. Franchisees are also required to submit copies of all tax returns, schedules, and reports filed for income, corporate, sales tax, employer health tax, or workers compensation purposes within thirty (30) days of April 15th each year. Franchisees must also submit proof of their Individual Advertising Investment, in the format required by Franchisor, on a monthly basis.