How can a Chocolate Bash franchisee obtain the Marketing Fund's financial statement?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
- (f) Financial Statement.
CB Franchising will prepare an unaudited annual financial statement of the Marketing Fund within 120 days of the close of CB Franchising's fiscal year and will provide the financial statement to Franchisee upon request.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, a franchisee can obtain the Marketing Fund's financial statement by requesting it from CB Franchising. CB Franchising will prepare an unaudited annual financial statement of the Marketing Fund within 120 days of the close of CB Franchising's fiscal year.
This means that Chocolate Bash franchisees have the right to request and receive a financial statement related to the Marketing Fund, allowing them to review how the fund is being managed and utilized. The statement is prepared annually, providing a regular overview of the fund's financial activities.
However, it's important to note that the financial statement is unaudited, meaning it has not been independently verified by an external accounting firm. While this provides a general overview, franchisees should keep this limitation in mind when reviewing the document. Franchisees may want to consider asking for more detailed or audited reports to gain a deeper understanding of the Marketing Fund's financials.