Does Face Foundrie require franchisees to use specific form documents for bookkeeping?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
chisor with respect to advertising,
marketing, and other matters relating to the System, Franchisee may be required to become a member of the Advisory Council. In such event, Franchisee shall pay to the Advisory Council all dues and assessments authorized by the Advisory Council and shall otherwise abide by the rules and regulations of the Advisory Council and shall at all times maintain its membership in the Advisory Council in good standing.
11. RECORDS.
- 11.01 Bookkeeping and Recordkeeping. Franchisee agrees to establish a bookkeeping and recordkeeping system conforming to the requirements prescribed from time to time by Franchisor, relating, without limitation, to the use and retention of invoices, coupons, purchase orders, payroll records, check stubs, bank statements, sales tax records and returns, cash receipts and disbursements, payroll records, journals and general ledgers. In establishing and maintaining Franchisee's bookkeeping and recordkeeping system, Franchisee shall use all form documents established by Franchisor in the Operations Manual or otherwise.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, franchisees are required to establish a bookkeeping and recordkeeping system that adheres to Face Foundrie's requirements, which may be updated periodically. As part of this system, franchisees must use all form documents established by Face Foundrie in the Operations Manual or otherwise provided.
This requirement extends to various financial reports and data that franchisees must provide to Face Foundrie. These reports must be prepared using any form documents established by Face Foundrie, potentially including a designated chart of accounts. The reports must also comply with the generally accepted accounting principles of the state where the Facial Bar is located, where applicable.
Failure to submit these reports or other required information by the specified deadlines may result in a late submission fee of $200. This underscores the importance of adhering to Face Foundrie's prescribed bookkeeping and reporting methods to avoid penalties and maintain compliance with the franchise agreement.