How often will Crawlspace Medic provide a statement of the Brand Fund's operations?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisor will prepare an unaudited annual statement of the Brand Fund's operations and will make it available to Franchisee upon request.
In administering the Brand Fund, Franchisor undertakes no obligation to make expenditures for Franchisee that are equivalent or proportionate to Franchisee's contribution or to ensure that any particular franchisee benefits directly or pro rata from the production or placement of advertising.
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, Crawlspace Medic will prepare an unaudited annual statement regarding the Brand Fund's operations. This statement will be made available to franchisees upon request.
This means that as a Crawlspace Medic franchisee, you are entitled to receive an annual report outlining how the Brand Fund is being managed and utilized. However, the statement is unaudited, meaning it has not been independently verified by an accounting firm.
While Crawlspace Medic is obligated to make this statement available, it is up to the franchisee to request it. It is important to note that Crawlspace Medic has no obligation to spend money from the Brand Fund in direct proportion to a franchisee's contribution, nor do they have to ensure that each franchisee benefits directly from advertising or promotional activities.