When must a Canine Dimensions franchisee report Gross Sales to the franchisor?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
- 10.2.1 A financial report, in the form prescribed by Franchisor, which accurately reflects all Gross Sales during the preceding fiscal month; and
- 10.2.2 Such other data or information as Franchisor may require.
10.3 Annual Reports
Franchisee shall; at its expense, provide to Franchisor an annual profit and loss statement and balance sheet, accompanied by a review report prepared by an independent certified public accountant satisfactory to Franchisor, within ninety (90) days after the end of each fiscal year of the Franchised Business during the Term, showing the results of the Franchised Business during said fiscal year.
10.4 Other Reports Required by Franchisor
Franchisee shall also submit to Franchisor, for review or auditing, such other forms, reports, records, information, and data as Franchisor may reasonably designate, in the form and manner (including electronic telecommunications) and at the time and places reasonably required by Franchisor, upon request and as specified from time to time in the Manual or otherwise in writing.
10.5 Franchisor's Right to Audit
Franchisor or its representatives or agents shall have the right at any time during normal business hours, and without prior notice to Franchisee, to inspect, copy, request, receive and/or audit or cause to be inspected, copied, requested, received and/or audited the business records, bookkeeping and accounting records, sales, reports, financial statements and tax returns that Franchisee is required to submit to the Franchisor hereunder along with Franchisee's books and records (including any records relating to Franchisee if Franchisee is a Business Entity). If Franchisor should determine that an audit is necessary, Franchisee will, upon notice, deliver to Franchisor all required records and documents and fully cooperate with Franchisor's representatives conducting any such audit. In the event that any such audit should disclose
Source: Item 22 — CONTRACTS (FDD page 36)
What This Means (2025 FDD)
According to Canine Dimensions' 2025 Franchise Disclosure Document, franchisees are required to submit a financial report to the franchisor on a monthly and annual basis. Specifically, Canine Dimensions franchisees must provide a financial report that accurately reflects all Gross Sales during the preceding fiscal month. This report must be in the form prescribed by Canine Dimensions.
In addition to the monthly report, Canine Dimensions franchisees must also provide an annual profit and loss statement and balance sheet. This annual report must be accompanied by a review report prepared by an independent certified public accountant that is satisfactory to Canine Dimensions. The annual report is due within ninety (90) days after the end of each fiscal year of the Franchised Business during the Term.
Furthermore, Canine Dimensions retains the right to request additional reports, records, information, and data from franchisees as deemed reasonably necessary. These additional requests will be communicated in writing or specified in the Manual, detailing the required form, manner, timing, and locations for submission. Canine Dimensions also has the right to inspect and audit the franchisee's business records, bookkeeping, accounting records, sales reports, financial statements, and tax returns at any time during normal business hours and without prior notice.