Does HydroDog provide guidance on administrative, bookkeeping, and accounting procedures?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
- 7.5 General Guidance**.** We will advise you from time-to-time regarding the operation of your HydroDog Business based on reports you submit to us or inspections we make. In addition, we will furnish guidance to you with respect to:
- (a) standards, specifications and operating procedures and methods utilized by the HydroDog Businesses;
- (b) purchasing required equipment, signs, products, materials and supplies;
- (c) Product and Service inventory practices and purchasing practices;
- (d) use of suppliers and approved products and supplies
- (e) sales, pricing policies and the like;
- (f) owner and management training; and
- (g) administrative, bookkeeping and accounting procedures.
- (a) standards, specifications and operating procedures and methods utilized by the HydroDog Businesses;
13. RECORDS, REPORTS AND FINANCIAL STATEMENTS.
13.1 Accounting System. You agree to establish and maintain at your own expense a bookkeeping, accounting and recordkeeping system conforming to the requirements and formats we prescribe from time-to-time. We may require you to use approved computer hardware and Software in order to maintain certain sales data and other information, including updating the Manuals and for communication purposes. You agree that we may have real-time, continuous, and unrestricted access to all sales data, customer information, financial records, and other business information through the Computer System at all times. You hereby grant us a perpetual, irrevocable, worldwide, royalty-free license to use, modify, analyze and share such data for any business purpose, including but not limited to system-wide analytics, optimization, and franchise sales activities, subject to applicable privacy laws and regulations.
13.2 Reports. You agree to furnish to us on such forms that we prescribe from time-to-time:
- (a) on the fifth (5th) day of each calendar month: a report on your HydroDog Business's Gross Sales during the immediately preceding calendar month with the Royalty payment;
- (b) within fifteen (15) days after the end of each calendar quarter: (i) a profit and loss statement for your HydroDog Business for the immediately preceding calendar month and year-to-date; and (ii) a balance sheet as of the end of such month;
- (c) within thirty (30) days after the end of your HydroDog Business's fiscal year: (i) annual profit and loss and source and use of funds statements; and (ii) a balance sheet for your HydroDog Business as of the end of such fiscal year; and
Source: Item 23 — RECEIPTS (FDD pages 43–166)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, Hydrodog will furnish franchisees with guidance regarding administrative, bookkeeping, and accounting procedures. This is part of the general guidance Hydrodog provides to franchisees.
Hydrodog also requires franchisees to establish and maintain a bookkeeping, accounting, and recordkeeping system that conforms to Hydrodog's requirements and formats. Hydrodog may also require franchisees to use approved computer hardware and software to maintain sales data and other information. Hydrodog retains the right to real-time, continuous, and unrestricted access to all sales data, customer information, financial records, and other business information through the computer system.
Furthermore, franchisees must furnish reports to Hydrodog on provided forms. These reports include a monthly report on gross sales with the royalty payment, quarterly profit and loss statements and balance sheets, and annual profit and loss and source and use of funds statements, along with a balance sheet for the business's fiscal year. These measures ensure that Hydrodog franchisees maintain proper financial records and that Hydrodog has access to the necessary financial information for oversight and support.