How often will Cicis provide an unaudited annual statement of the operations of the Fund?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
We will prepare an unaudited annual statement of the operations of the Fund and make the most recent statement available to you, on your written request, within 120 days after our fiscal year end.
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis' 2025 Franchise Disclosure Document, Cicis will prepare an unaudited annual statement of the operations of the Fund. This statement will be made available to franchisees upon written request within 120 days after the end of Cicis' fiscal year.
This means that franchisees can request to see how the marketing fund is being managed and how the contributions are being spent. The statement is unaudited, so it has not been verified by an independent accounting firm.
It is fairly standard in the franchise industry for franchisors to provide an annual report on the marketing fund to franchisees. This allows franchisees to stay informed about the fund's activities and ensure transparency in how their contributions are being utilized. Franchisees should make sure to submit a written request to Cicis to receive this statement each year to stay informed.