How often is a statement of the operations of the Crave Brand Development Fund prepared?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
- 8.3.3 A statement of the operations of the Fund shall be prepared annually by our accountants and shall be made available to you on written request.
The cost of the statement shall be paid by the Fund.
We are not required to have any Fund statement audited, but if we choose to have the Fund audited it will be at the Fund's expense.
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, a statement of operations for the Brand Development Fund will be prepared annually by Crave's accountants. This statement will be made available to franchisees upon written request. The cost of preparing this statement is paid by the Brand Development Fund itself.
Crave is not required to have the Brand Development Fund statement audited. However, if Crave chooses to have the fund audited, the cost of the audit will be at the Fund's expense.
This means that franchisees can request to see how the Brand Development Fund, which is funded by a portion of their royalties, is being managed and spent. It provides a level of transparency, although the FDD specifies that Crave has sole discretion over the fund's use and is not obligated to ensure expenditures are proportionate to franchisee contributions or that any franchisee benefits directly from advertising placements.