When must a Cinnaholic franchisee submit the monthly unaudited balance sheet and profit and loss statement?
Cinnaholic Franchise · 2025 FDDAnswer from 2025 FDD Document
- (ii) A monthly unaudited balance sheet and profit and loss statement in a form satisfactory to Franchisor covering Franchisee's business for the prior month and fiscal year to date, all of which shall be certified by Franchisee as true and correct and delivered to Franchisor no later than the 21st day of each month;
Source: Item 22 — CONTRACTS (FDD pages 61–62)
What This Means (2025 FDD)
According to Cinnaholic's 2025 Franchise Disclosure Document, franchisees are required to submit a monthly unaudited balance sheet and profit and loss statement to Cinnaholic. This report must be in a format that Cinnaholic finds satisfactory. The report should cover the franchisee's business operations for the previous month and the fiscal year up to that point.
The franchisee must certify that the balance sheet and profit and loss statement are true and correct. This certification underscores the importance of accurate financial reporting and places responsibility on the franchisee for the information provided.
The deadline for submitting this monthly report is the 21st day of each month. This consistent monthly reporting schedule allows Cinnaholic to monitor the financial performance of its franchise locations regularly and identify trends or potential issues. Failing to submit the reports on time may result in penalties, as outlined elsewhere in the franchise agreement, such as a late submission fee.