What periodic financial reports must a Chocolate Fish Coffee franchisee provide?

According to Chocolate Fish Coffee's 2024 Franchise Disclosure Document, franchisees are required to submit periodic financial reports to Chocolate Fish Franchising. These reports include a monthly profit and loss statement and balance sheet for the business, which must be submitted within 30 days after the end of each calendar month. Additionally, franchisees must provide an annual financial statement, including a profit and loss statement, cash flow statement, and balance sheet, within 90 days after the end of Chocolate Fish Franchising's fiscal year.

Chocolate Fish Coffee also requires franchisees to provide any information requested to prepare a financial performance representation for the franchise disclosure document. This means that franchisees need to be prepared to share additional financial details beyond the standard monthly and annual reports if specifically requested by the franchisor.

It is also important to note that Chocolate Fish Coffee franchisees must use specific customer data management, sales data management, administrative, bookkeeping, accounting, and inventory control procedures and systems as specified in the manual or otherwise in writing. This ensures that the financial data provided is consistent and accurate, facilitating easier analysis and comparison across all franchise locations.