Does Southern Steer provide audited financial statements for the Brand Fund?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
If You request, We will send You an annual unaudited financial statement for the Brand Fund that indicates how the Brand Fund has been spent during the past fiscal year. We do not have the Brand Fund audited, so audited financial statements are not available.
Source: Item 11 — ITEM. 11 FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 26–35)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, Southern Steer does not provide audited financial statements for the Brand Fund. However, if a franchisee requests it, Southern Steer will provide an annual unaudited financial statement for the Brand Fund, indicating how the funds were spent during the past fiscal year.
Southern Steer reserves the right to establish a Brand Fund with a weekly contribution of 1% of Gross Revenue from franchisees. These contributions will be deposited into a segregated bank account. The Brand Fund can be used for various advertising and public relations expenditures, including media advertising, salaries, administrative costs, and creating marketing materials.
As of January 31, 2025, Southern Steer had not collected any Brand Fund Contributions. The Brand Fund may borrow or invest funds, and any remaining amounts at the end of each year will accrue and may be applied toward the next year's expenses. Southern Steer does not guarantee that advertising expenditures from the Brand Fund will directly benefit any specific franchisee or on a pro rata basis.