When is the Annual Profit & Loss Statement and Balance Sheet due to Zoomin Groomin?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| Annual Budget | September 30 of each year |
|---|---|
| Annual Profit & Loss Statement and Balance Sheet | By February 15 of each year as to income and expenses incurred in the prior year |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, franchisees are required to submit their Annual Profit & Loss Statement and Balance Sheet to Zoomin Groomin by February 15th of each year. This report must include income and expenses incurred in the prior year.
This requirement ensures that Zoomin Groomin has a clear understanding of each franchisee's financial performance. By setting a specific deadline, Zoomin Groomin can efficiently collect and analyze financial data from all franchise locations. This allows them to benchmark performance, identify trends, and provide support where needed.
Franchisees should mark this deadline on their calendars and establish accounting practices that allow them to gather and submit the required financial statements on time. Failure to submit accurate and timely financial reports could potentially lead to penalties or other consequences as outlined in the franchise agreement. Keeping organized financial records throughout the year will help franchisees meet this reporting obligation.