When is the annual financial statement due from a Face Foundrie Area Developer to the Franchisor?

According to Face Foundrie's 2025 Franchise Disclosure Document, an Area Developer must submit a complete annual financial statement to Face Foundrie by April 15th of the year following the end of the Area Developer's fiscal year. This statement must be prepared according to generally accepted accounting principles (GAAP) on a compilation basis.

Face Foundrie may also require that these annual statements be prepared by an independent certified public accountant. The financial statement provides Face Foundrie with a comprehensive overview of the Area Developer's financial performance over the past year, ensuring compliance with the franchise agreement and helping Face Foundrie monitor the financial health of its Area Developers.

In addition to the annual financial statement, Face Foundrie requires Area Developers to submit monthly profit and loss statements no later than the 20th day of each calendar month, reflecting the previous month's operations for each franchised facial bar. These monthly statements must also be prepared on an accrual basis and in accordance with GAAP. Area Developers are also obligated to submit any other forms, reports, records, information, and data that Face Foundrie may reasonably request.