When must a Canine Dimensions franchisee submit the monthly financial report 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.
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. This report must accurately reflect all Gross Sales during the preceding fiscal month. The FDD does not specify a particular deadline for submitting this monthly financial report.
In addition to the monthly financial reports, 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 franchisees are obligated to submit any other forms, reports, records, information, and data that Canine Dimensions may reasonably request. These additional submissions must be in the form and manner, including electronic telecommunications, and at the time and places reasonably required by Canine Dimensions. The specific requirements for these other reports will be detailed in the Manual or otherwise in writing.
Since the exact deadline for the monthly financial reports is not specified in the FDD, prospective Canine Dimensions franchisees should clarify the due date with the franchisor during their due diligence. Understanding the monthly reporting requirements is crucial for managing the franchise effectively and maintaining compliance with the franchise agreement.