What reports and statements must be submitted for a Cream franchisee to be eligible for renewal?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
s than the full term of the renewal franchise;
- (4) you agree to remodel and/or expand your Shop, add or replace improvements, and otherwise modify your Shop as we require to comply with System Standards thenapplicable for new Jeni's Ice Creams Scoop Shops;
- (5) you pay us our renewal fee, which is 50% of the then-current initial franchise fee;
- (6) you and your owners have not violated any provision of this Agreement or any other agreement with us or our affiliates during both the 60-day period before you give us written notice of your election to acquire a successor franchise and on the date on which the term of the successor franchise commences, in full compliance with this Agreement including that you have paid all Royalties, Brand Fund Contributions, and other amounts owed to us, our affiliates, and third-party suppliers, and have submitted all required reports and statements;
- (7) you and your owners sign the franchise agreement and all other ancillary documents and guaranties we then use to grant franchises for Jeni's Ice Creams Scoop Shops (modified as necessary to reflect the fact that it is for a renewal franchise), which may contain provisions that differ materially from those contained in this Agreement, including changes to your Royalty, Brand Fund Contribution, and Protected Territory;
- (8) you and your owners agree to sign, in a form satisfactory to us, a general release of any and all claims (except for claims which cannot be released or waived pursuant to an applicable franchise statute) against us and our owners, affiliates, officers, directors, employees, agents, successors, and assigns; and
(9) we are then-offering franchises for Jeni's Ice Creams Scoop Shops in your geographic market.
Source: Item 23 — RECEIPTS (FDD pages 61–192)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, to be eligible for renewal, a franchisee must have submitted all required reports and statements. The FDD specifies that franchisees must establish and maintain a bookkeeping, accounting, and recordkeeping system that conforms to Cream's requirements. Franchisees must also deliver additional financial records, including profit and loss statements, operating statements, cash flow statements, statistical reports, bank activity reports, tax records, and other records that Cream requests. These must be delivered at the intervals and in the format Cream specifies.
Furthermore, each report and financial statement must be verified and signed as prescribed by Cream. Cream retains the right to disclose data derived from these reports. Franchisees are obligated to preserve and maintain all records in a secure location at their business for at least three years, or longer if required by law. These records include sales checks, purchase orders, invoices, payroll records, customer lists, check stubs, sales tax records and returns, cash receipts and disbursement journals, and general ledgers.
In addition to financial reporting, Cream requires franchisees to provide a business plan within 60 days after the effective date of the agreement, including a projected schedule for Cream Scoop Shop development and detailed cost and revenue projections. This business plan must be updated at least 90 days before the start of each calendar year, covering actual results for the previous year and projections for the current year. Franchisees must also send a report of their business activities, including information about site selection efforts and the status of development and projected openings for each Scoop Shop. Until the first Scoop Shop is open, this report is due monthly within 7 days of the end of each calendar month; after the first shop opens, it is due quarterly within 15 days of the end of each calendar quarter. Cream may also request further information about development plans at any time.