When must a 1-800-GOT-JUNK? franchisee update records and data on the CRM system for the Semi-Monthly Report?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
8.3 Semi-Monthly Report. Within three (3) Business Days after the 15th and the last day of each Month, Franchisee shall update all records and data on the CRM System with respect to the Franchised Business so that Franchisor can produce from the CRM System a report in electronic form (the “Semi- Monthly Report”) containing: (a) a correct and complete statement of all sales and Gross Revenue for the 1st through the 15th day, or the 16th through the last day, of each Month, as applicable; and (b) such other financial information as Franchisor may specify from time to time. Each Semi-Monthly Report shall be certified as correct by Franchisee. Upon request by Franchisor, Franchisee shall supply copies of some or all of the sales records (in all relevant media) related to the operation of the Franchised Business in any given period.
Source: Item 22 — Contracts (FDD page 24)
What This Means (2025 FDD)
According to the 2025 1-800-GOT-JUNK? Franchise Disclosure Document, franchisees are required to update all records and data on the CRM system for the Semi-Monthly Report within three business days after both the 15th and the last day of each month. This means that 1-800-GOT-JUNK? franchisees must ensure their CRM system is current twice a month to allow the franchisor to generate the Semi-Monthly Report.
The Semi-Monthly Report must contain a complete statement of all sales and gross revenue for the first half of the month (1st through the 15th) and the second half of the month (16th through the last day). The report should also include any other financial information that 1-800-GOT-JUNK? may specify from time to time.
Each Semi-Monthly Report needs to be certified as correct by the 1-800-GOT-JUNK? franchisee, confirming the accuracy of the financial data. Additionally, upon request from 1-800-GOT-JUNK?, franchisees must supply copies of sales records related to the operation of the franchised business for any given period, in all relevant media. This ensures that the franchisor has access to detailed sales information for verification and analysis.