Must the Dryject franchisee sign the monthly income statement and balance sheet?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
- (h) You are required to submit, at Your expense, a monthly report including both an income statement and balance sheet, signed by You, in a form to be prescribed by Us.
Such report shall reflect the Gross Revenues during the preceding month, along with any additional information that
We may deem reasonably necessary. This report shall be mailed or electronically transmitted to Us so that it is received by Us no later than the fifteenth (15th) day of the next succeeding month. Pursuant to Section 22 of this Agreement, You are also required to provide Us with annual reports of Gross Revenues, income statements and balance sheets from each Franchised Business' operation signed by You within sixty (60) days of the end of Your fiscal or other operating year. We reserve the right to require other additional reports, as are or may be more particularly set forth in Our Operations Manual.
Source: Item 23 — RECEIPT (FDD pages 50–68)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, franchisees are required to submit a monthly report that includes both an income statement and a balance sheet. This report must be signed by the franchisee. The purpose of this requirement is to ensure that Dryject receives accurate financial information from each franchise location.
The monthly report must be in a format prescribed by Dryject and reflect the gross revenues during the preceding month, along with any additional information that Dryject deems reasonably necessary. This report must be received by Dryject no later than the fifteenth day of the next succeeding month. Franchisees are also required to provide Dryject with annual reports of gross revenues, income statements, and balance sheets from each franchised business' operation, signed by the franchisee, within sixty days of the end of their fiscal or other operating year.
This requirement is fairly standard in franchising, as franchisors need accurate financial data from their franchisees to calculate royalties, assess the financial health of the system, and ensure compliance with the franchise agreement. The franchisee's signature on these documents serves as an attestation to the accuracy of the information provided. Failure to submit these reports on time or providing inaccurate information could result in penalties or other consequences as outlined in the franchise agreement.