Where must Casiola franchisees maintain copies of their business records?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
12.A. MAINTENANCE AND PRESERVATION OF RECORDS
Franchisee shall maintain during the Term and preserve for at least three years from the dates of their preparation, full, complete and accurate books, records, and accounts from the Franchised Business. Such records shall be maintained and preserved in the form and manner by Franchisor in the Operations Manual or otherwise in writing.
Source: Item 23 — RECEIPTS (FDD pages 47–209)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, franchisees are required to maintain full, complete, and accurate books, records, and accounts related to their Franchised Business during the term of the agreement. These records must be preserved for at least three years from the date of their preparation.
The specific form and manner in which these records must be maintained and preserved will be dictated by Casiola, as outlined in the Operations Manual or through other written instructions. This gives Casiola the authority to set standards for record-keeping, ensuring consistency and accessibility for auditing or review purposes.
This requirement ensures that Casiola franchisees maintain organized and accessible financial records, which is a standard practice in franchising. It allows Casiola to monitor the financial performance of individual franchises and the overall system, and it also helps franchisees manage their business effectively and comply with legal and tax requirements.