What kind of information can Cicis obtain from a franchisee's banks, lenders, and vendors?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
You hereby authorize (and agree to execute any other documents deemed necessary to effect such authorization) all banks, financial institutions, businesses, suppliers, manufacturers, contractors, vendors, and other Persons (including the providers of data warehouse services) with which you do business to disclose to us any requested financial information in their possession relating to you or your Restaurant. You also hereby authorize us to disclose data from your reports, if we determine, in our sole discretion, that such disclosure is necessary or advisable, which disclosure may include disclosure to prospective or existing franchisees or other third parties.
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis' 2025 Franchise Disclosure Document, as a franchisee, you authorize banks, financial institutions, businesses, suppliers, manufacturers, contractors, vendors, and other persons with whom you do business to disclose any requested financial information about you or your Cicis restaurant to Cicis. Cicis also has the right to disclose data from your reports to prospective or existing franchisees or other third parties if they deem it necessary or advisable.
This authorization allows Cicis to monitor the financial health and operational performance of its franchisees. This is a fairly standard practice in franchising, as it helps the franchisor ensure brand consistency and financial stability across the system.
However, it's important for a prospective Cicis franchisee to understand the extent of this information sharing and how it might impact their business. Franchisees should consider discussing with Cicis what specific types of financial information they typically request and under what circumstances they share franchisee data with third parties.