What specific financial information must I include in the books of account for my Dryject franchise?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
- (a) You shall keep and maintain during the Term of this Agreement and any renewal periods, and shall preserve for a minimum of seven (7) years thereafter, full, complete and accurate books of account in accordance with generally accepted accounting standards and practices, which books shall accurately reflect the Gross Revenues of the Franchised Business; and any and all deductions expressly permitted by this Agreement; marketing activities; payroll; closeout sheets, payroll and accounts payable.
- (b) You shall, at Your expense, deliver to Us within fifteen (15) days of the end of each calendar month, on forms prescribed by Us, a financial statement, which may be unaudited, for the preceding month, including both an income statement and balance sheet. Upon our written request, You shall, at Your expense, deliver to Us, a complete financial statement for the prior fiscal year in such form as We may require, including, without limitation, both an income statement and balance sheet, which may be unaudited, together with reports of Gross Revenues from that year's operations and all amounts expended on advertising as well as such other information as We require. Each financial statement shall be signed by You or by Your Treasurer, Managing Member or Chief Financial Officer, who shall attest that the statement is true and correct and prepared in accordance with Our requirements.
You shall also submit to Us Your current financial statement and other forms, records, reports, information and data as We may reasonably designate, in the form, and at the times and the places reasonably required by Us, upon request, and as specified from time to time in the Operations Manual or otherwise in writing.
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, as a franchisee, you are required to maintain comprehensive and accurate books of account throughout the term of the agreement and for a minimum of seven years after that. These books must adhere to generally accepted accounting standards and practices.
The financial records must accurately reflect the Gross Revenues of the Franchised Business, any deductions expressly permitted by the Franchise Agreement, marketing activities, payroll, closeout sheets, and accounts payable. This detailed record-keeping ensures transparency and allows Dryject to accurately assess royalties and other financial obligations.
Furthermore, you must provide Dryject with monthly financial statements within 15 days of each calendar month's end. These statements, which may be unaudited, should include an income statement and balance sheet. Upon Dryject's request, you must also deliver a complete financial statement for the prior fiscal year, including an income statement and balance sheet, along with reports of Gross Revenues and advertising expenditures. These financial statements must be signed by you or your Treasurer, Managing Member, or Chief Financial Officer, attesting to their accuracy and compliance with Dryject's requirements. You are also obligated to submit any other financial information that Dryject reasonably designates, in the format and at the times and places they require, as specified in the Operations Manual or in writing.