Within how many days of opening my Itan salon must I submit an expense report?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Budget and Initial Investment Report: We strongly recommend you hire an accountant, business advisor or other professional to assist you in developing a budget for the construction, opening and operation of your Salon. Within 60 days after your opening date, you must send us a report, in the form we designate, listing the expenses you incur to develop and open your Salon. We may use this data to update the initial investment estimate in future versions of our Franchise Disclosure Document.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 15–18)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, you must submit a report listing the expenses incurred to develop and open your salon within 60 days of your opening date. This report must be in a form designated by Itan. The information provided in this report may be used by Itan to update the initial investment estimate in future versions of the Franchise Disclosure Document.
It is highly recommended that you hire an accountant, business advisor, or other professional to assist in developing a budget for the construction, opening, and operation of your Itan salon. This will help you track and manage your expenses effectively, ensuring accurate reporting to Itan within the required timeframe.
Submitting the expense report on time is crucial, as it allows Itan to gather data and refine their initial investment estimates for future franchisees. This collaborative approach ensures that the franchise system remains transparent and provides realistic financial expectations for new Itan salon owners.