How often must a Buona franchisee submit Quarterly Statements to the franchisor?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
During the Term, Franchisee shall, at its expense, submit to Franchisor within twentyone (21) days following the end of each of quarter of the fiscal year, a statement providing certain sales and other financial data in a form and format as Franchisor may reasonably require ("Quarterly Statement") together with a certificate executed by Franchisee or an officer of Franchisee stating that such financial statement is true and accurate..
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, franchisees are required to submit Quarterly Statements to Buona. These statements, which provide sales and other financial data, must be submitted at the franchisee's expense.
The FDD specifies that these Quarterly Statements are due within twenty-one (21) days following the end of each quarter of the fiscal year. The statement must be in a format that Buona reasonably requires, and it must be accompanied by a certificate executed by the franchisee or an officer of the franchisee, attesting to the accuracy of the financial data.
Buona also retains the right to modify the form, manner, and timing of submitting these Quarterly Statements, as detailed in the manuals or other written communications. This means that the frequency or format of the reports could change during the term of the franchise agreement, so franchisees need to stay updated with any changes Buona implements.