When is the monthly unaudited balance sheet and profit and loss statement due to Face Foundrie?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
11.02 Periodic Reports. Franchisee must provide Franchisor with those financial reports, data, information and supporting records required thereby from time to time, including, without limitation:
(b) A monthly unaudited balance sheet and profit and loss statement in a form satisfactory to Franchisor covering Franchisee's Facial Bar for the prior month and fiscal year to date, all of which shall be certified by Franchisee as true and correct and delivered to Franchisor no later than the 5th day of each month;
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, franchisees must submit a monthly unaudited balance sheet and profit and loss statement to Face Foundrie. This report must cover the franchisee's Facial Bar performance for the prior month and fiscal year to date.
The report must be certified by the franchisee as true and correct. Face Foundrie requires franchisees to deliver this report no later than the 5th day of each month. This means that Face Foundrie requires franchisees to submit their financial performance data in a timely manner for review.
This requirement ensures that Face Foundrie has access to current financial information from all franchise locations, allowing them to monitor performance, identify trends, and provide support where needed. It also allows Face Foundrie to calculate royalties and marketing contributions accurately, as these are typically based on a percentage of gross sales. Franchisees should ensure they have systems in place to accurately track and report this information to comply with the franchise agreement.