What financial statements must a Cilantro Taco Grill multi-unit franchisee submit to the franchisor?
Cilantro_Taco_Grill Franchise · 2024 FDDAnswer from 2024 FDD Document
5.4.1 Multi-Unit Operator shall (i) request and timely execute receipt of Franchisor's then-current Franchise Disclosure Document, (ii) submit to Franchisor all information and other documents requested by Franchisor prior to and as a basis for the issuance of Franchise Agreements in the
- System, (iii) submit to Franchisor all financial statements reasonably requested by Franchisor, and (iv) satisfy Franchisor's then-current financial criteria for multi-unit franchisees.
Source: Item 23 — RECEIPT (FDD pages 52–208)
What This Means (2024 FDD)
According to the 2024 Cilantro Taco Grill Franchise Disclosure Document, a multi-unit operator must submit all financial statements reasonably requested by Cilantro Taco Grill to be granted the right to develop an additional outlet. These financial statements are part of the information Cilantro Taco Grill requires before issuing Franchise Agreements.
This means that if you are a multi-unit franchisee looking to expand your Cilantro Taco Grill business, you will need to provide financial documentation to the franchisor. The specific types of financial statements are not detailed in this section but are determined by what Cilantro Taco Grill reasonably requests.
It is important for prospective multi-unit franchisees to maintain organized and up-to-date financial records. This will ensure they can readily comply with Cilantro Taco Grill's requests when seeking to expand their operations. Failure to provide the requested financial statements or meet the franchisor's financial criteria could prevent the franchisee from developing additional Cilantro Taco Grill locations.