When will the Burros Fries annual financial statements be available after the end of the fiscal year?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
ish it to you upon written request. All financial statements will be available 120 days after the end of our fiscal year. We reserve the right not to spend all of the funds in the System Advertising Fund in any one year and such funds may be accrued
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 27–38)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, all financial statements will be available 120 days after the end of the fiscal year. This applies to the annual un-audited statement of monies collected and costs incurred by the System Advertising Fund, which Burros Fries will furnish to franchisees upon written request.
This means that a Burros Fries franchisee can expect to receive the annual financial statements approximately four months after the close of Burros Fries's fiscal year. This timeframe allows Burros Fries to compile and prepare the necessary financial reports.
It is important to note that the statement for the System Advertising Fund is un-audited. If Burros Fries establishes a franchisee marketing council, that council will also prepare annual financial statements for franchisee review.