On what day of the week does the fiscal year end for Hawaiian Bros Island Grill?
Hawaiian_Bros_Island_Grill Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee will maintain complete and accurate books and records relating to the operation of the Franchised Restaurant in accordance with Section 7(d)(22) and Section 7(d)(25), permit Company representatives to inspect such books and records at reasonable times and, within 45 days after the end of each fiscal year of the Franchised Restaurant (90 days if required to be audited or reviewed), submit to Company a balance sheet, income statement and statement of cash flow for the year then ended.
These financial statements must be prepared by an independent certified public accountant, disclose separately the items specified by Company on forms it provides and be prepared in accordance with the accounting principles and practices Company prescribes, and be compiled, reviewed or audited at Company's election.
Source: Item 23 — RECEIPTS (FDD pages 77–262)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the Hawaiian Bros Island Grill FDD does not specify the exact day of the week on which the fiscal year ends. However, it does state that franchisees must submit a balance sheet, income statement, and statement of cash flow to the company within 45 days after the end of each fiscal year. This period extends to 90 days if the financial statements are required to be audited or reviewed.
This requirement ensures that Hawaiian Bros Island Grill franchisees maintain accurate and up-to-date financial records, allowing the franchisor to monitor the financial health of each location. The financial statements must be prepared by an independent certified public accountant and adhere to the accounting principles and practices prescribed by the company. This standardization helps Hawaiian Bros Island Grill in assessing the overall performance of the franchise system and ensures consistency in financial reporting.
Prospective franchisees should inquire with Hawaiian Bros Island Grill about the specific fiscal year-end date to ensure timely compliance with financial reporting requirements. Understanding the fiscal year-end is crucial for planning and managing the franchisee's accounting and reporting activities.