On what page of the Pearce Bespoke FDD can I find information about Sales Reports?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
12. SALES REPORTS, FINANCIAL STATEMENTS AND AUDIT RIGHTS
A. Sales Reports.
Franchisee will maintain an accurate written record of daily Gross Sales and will deliver to Franchisor a signed and verified statement of the weekly Gross Sales of Franchisee's business using such forms and methods as Franchisor may require in writing. The weekly statement of Gross Sales must be provided to Franchisor on or before Wednesday of each week for the preceding week. Franchisor reserves the right to modify or substitute the required forms and methods and impose additional recordkeeping procedures.
B. Financial Statements.
Franchisee will, at its expense, provide Franchisor with quarterly and annual financial statements and such other financial reports as Franchisor specifies using the forms and chart of accounts Franchisor requires. All financial information provided to Franchisor under this Section must be presented in the form Franchisor periodically requires in writing. Franchisee will deliver the quarterly financial information to Franchisor by the thirtieth (30th) day of the month following the end of the preceding quarter. The annual financial statement must be provided on or before March 1 of each year for the preceding calendar year. Franchisee acknowledges and agrees that the financial data of Franchisee's Pearce Bespoke Franchise (i) is owned by Franchisor, (ii) is Franchisor's Proprietary Information, (iii) may be published in franchise disclosure document(s) issued by Franchisor following the Effective Date hereof, and (iv) may be shared with other franchisees in the Business System.
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, details regarding sales reports can be found on page 99. Specifically, section 12 of Item 22, titled "SALES REPORTS, FINANCIAL STATEMENTS AND AUDIT RIGHTS" begins on this page. This section outlines the franchisee's responsibilities for maintaining accurate sales records and providing weekly sales statements to Pearce Bespoke.
The FDD specifies that franchisees must keep accurate daily records of Gross Sales and submit a signed, verified weekly statement of these sales to Pearce Bespoke. These statements are due by Wednesday of each week, covering the preceding week's sales. Pearce Bespoke retains the right to modify the forms and methods used for reporting and may also introduce additional record-keeping procedures.
In addition to sales reports, page 99 also covers the franchisee's obligation to provide quarterly and annual financial statements to Pearce Bespoke. These statements must adhere to Pearce Bespoke's required forms and chart of accounts. Quarterly financial information is due within 30 days after the end of each quarter, while the annual financial statement must be submitted by March 1 of each year for the previous calendar year. The FDD also states that Pearce Bespoke owns the financial data and may publish it in future franchise disclosure documents or share it with other franchisees.