Management Information and Reporting Requirements

To protect your business, our business and the other franchisees businesses it is vital that we keep a close eye on the operating performance of each franchise. This enables us to step in quickly and provide support to franchisees when they need it, AND, when required issue warnings to any franchisees that are threatening the franchise brand or not following procedures.

We must maintain our brand reputation for quality and service at all times – after all this is our biggest USP and the reason behind our success. Our duty is to ensure that each franchise operates to the same standards.

Monitoring your franchise is one of the great support mechanisms of the franchise you are buying. We do this through your accounts and ongoing weekly, monthly, annual and reports. From time to time we will request this information.

It is your responsibility to provide any accounting and management information required in a timely manner. This is compulsory and since the information can be collected very quickly there is no excuse not to provide it.  The reports and figure reporting we could ask for along with when to send the information in are as follows:

Weekly Gross Revenue and Sales Activity Report

At the end of each week we require information on your gross revenue figures and sales and marketing activity for the week (see forms in Appendix A). This will help us to support you better and share best practice within the group.

Monthly Gross Revenue Report

On the last working day of each month we require your Gross Sales figures for the month (see form in Appendix A).  This should be accompanied with your Monthly fee.

Monthly Profit and Loss Report

It is important that we receive a monthly accounting P&L report from you giving us an overview of how your business is doing. This should be sent to us after month end but no later than the middle of the following month.

Adhoc Reports

We may from time to time ask you to provide us with Management Information regarding your accounts, sales performance and data from other key operational areas. This may include the Sales and Marketing Audit too, which is outlined in the appendices.

Annual Accounts

You must maintain true and fair accounts of your business and adhere to all annual audit procedures (if applicable). You will need to provide copies of your accounts within 3 months of your year-end and then keep them safe for at least six years. The annual report must include a Profit and Loss Statement and Balance Sheet.

VAT (if registered)

You must provide a copy of your VAT statement at the end of each VAT return period.

Payments for Products and Services

Goods and services provided by the franchisor such as stock and supplies will require payment as stated on the invoices unless otherwise specified by the franchisor. Goods remain the property of the franchisor until full payment is made.

Payment of Monthly Franchise Fee

A monthly Franchise Fee is payable at the end of each month and is to be sent with your monthly report.  Part of your monthly franchise fee is put towards central administration, website, SEO, support, and other key Head Office functions that you would otherwise have to do.