What financial statements are Healthsource Chiropractic franchisees required to submit monthly?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
- k. you fail to submit when due any financial statements, reports or other data, information, or supporting records;
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
Based on the 2025 Healthsource Chiropractic Franchise Disclosure Document, there is no explicit list of financial statements that franchisees must submit monthly. However, the document does state that failing to submit financial statements when due is a breach of the franchise agreement.
Specifically, Item 10.5(k) indicates that a franchisee's failure to submit financial statements, reports, or other data, information, or supporting records when due constitutes a breach of the agreement. This implies that Healthsource Chiropractic does require franchisees to submit some form of financial reporting on a regular basis.
To fully understand the specific monthly financial reporting requirements, a prospective Healthsource Chiropractic franchisee should ask the franchisor for a detailed list of all required reports, the due dates for submission, and the format in which the reports must be submitted. This information is crucial for managing the franchise effectively and remaining in compliance with the franchise agreement.