How often must a Buona franchisee submit a Quarterly Statement?

According to Buona's 2025 Franchise Disclosure Document, franchisees are required to submit a Quarterly Statement to Buona four times per year. These statements must be submitted within twenty-one (21) days following the end of each quarter of the fiscal year. The Quarterly Statements must provide specific sales and financial data in a format that Buona requires. The franchisee or an officer of the franchisee must also certify that the financial statement is accurate and truthful.

This requirement ensures that Buona has a consistent and regular flow of financial information from its franchisees, allowing them to monitor the financial health and performance of individual locations and the franchise system as a whole. This data helps Buona to assess royalty payments, track sales trends, and provide support to franchisees as needed.

Furthermore, Buona retains the right to modify the format, method, and timing of submitting Quarterly Statements, Period Statements, Financial Statements, and other reports, as detailed in the Manual or in writing. This flexibility allows Buona to adapt its reporting requirements as business needs and industry standards evolve.

Failure to comply with these reporting requirements can have serious consequences for a Buona franchisee, potentially leading to penalties, audits, or even termination of the franchise agreement. Therefore, it is crucial for prospective franchisees to understand and adhere to these obligations.