What is the deadline for Eos Worldwide to provide franchisees with an annual statement of the Brand Fund?
Eos_Worldwide Franchise · 2025 FDDAnswer from 2025 FDD Document
- (e) Any sums paid to the Brand Fund that are not spent in the year they are collected will carry over to the following year. For any fiscal year in which we operate or maintain a Brand Fund to which you contribute, then within one hundred twenty (120) days of the fiscal year-end, we will prepare, and furnish to you upon written request, an annual, unaudited statement of funds collected and costs incurred.
Source: Item 23 — RECEIPTS (FDD pages 74–246)
What This Means (2025 FDD)
According to the 2025 Eos Worldwide Franchise Disclosure Document, if Eos Worldwide operates or maintains a Brand Fund to which franchisees contribute, they will furnish an annual, unaudited statement of funds collected and costs incurred within 120 days of the fiscal year-end. This statement will be provided to franchisees upon written request.
This means that Eos Worldwide franchisees can request an annual report detailing how the Brand Fund contributions were used. The report will outline the funds collected and the costs incurred. However, the statement is unaudited, meaning it has not been verified by an independent accounting firm.
It is important for prospective franchisees to understand the Brand Fund and its usage, as contributions to the fund are mandatory if Eos Worldwide establishes one. Franchisees should make a written request within a reasonable timeframe to ensure they receive the statement in a timely manner. Understanding how the Brand Fund is managed can help franchisees assess the value and effectiveness of their contributions.