What is Endless Summer Sweets' fiscal year?
Endless_Summer_Sweets Franchise · 2024 FDDAnswer from 2024 FDD Document
If requested by you in writing no sooner than 120 days after the end of our fiscal year, we will provide you with an annual unaudited statement of contributions and expenditures of the Advertising Fund for our most recently completed fiscal year. We will not be required to audit the Fund. If we expend less than the total contributions available in the Fund during any fiscal year, we will retain the remaining amount in the Fund and expend the unused sum during the following fiscal year. If we expend an amount greater than the amount available in the Fund in any fiscal year(in addition to any sum required to be expended because we did not expend all the sums in the Fund during the preceding year), we will be entitled to reimburse ourselves from the Fund during the next fiscal year for all excess expenditures made during the preceding fiscal year. Although the Fund would be intended to be of perpetual duration, we have the right to discontinue the Advertising Fund. We decide whether to form and whether to terminate the Fund. If we terminate the Fund, we may require that you to spend an equivalent amount on local advertising in addition to the amount you are required to spend on local advertising. We will not discontinue the Fund,
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 18–25)
What This Means (2024 FDD)
According to Endless Summer Sweets' 2024 Franchise Disclosure Document, if a franchisee requests it in writing no sooner than 120 days after the end of Endless Summer Sweets' fiscal year, Endless Summer Sweets will provide an annual unaudited statement of contributions and expenditures of the Advertising Fund for their most recently completed fiscal year.
This means that Endless Summer Sweets franchisees can request information on how the advertising funds are being managed and spent. The 120-day window after the fiscal year-end is important because it sets a specific timeframe for when franchisees can make this request.
However, the 2024 FDD does not explicitly state the exact end date of Endless Summer Sweets' fiscal year. A prospective franchisee should ask the franchisor directly about the fiscal year-end date to understand when they can request the advertising fund statement.