What is the deadline for reporting Gross Receipts each week to Annex Brands?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee (1) | Amount | Due Date | Remarks |
|---|---|---|---|
| Royalty fee | 5% of Gross Receipts (2) | Each Wednesday, after the close of business, for the previous week ending Saturday | We may establish other due dates. You must report Gross Receipts each Saturday after the close of business before midnight for the week ending on that Saturday. You must pay us by automatic bank draft. (3) |
| Marketing fee (4) | 2% of Gross Receipts (2) | Each Wednesday, after the close of business, for the previous week ending Saturday | We may establish other due dates. You must report Gross Receipts each Saturday after the close of business before midnight for the week ending on that Saturday. You must pay us by automatic bank draft. (3) We administer a system-wide marketing fund. |
Source: Item 6 — OTHER FEES (FDD pages 24–32)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, franchisees are required to report their Gross Receipts each Saturday after the close of business, but before midnight. This reporting is for the week ending on that Saturday. This requirement is tied to both the royalty fee, which is 5% of Gross Receipts, and the marketing fee, which is 2% of Gross Receipts.
Annex Brands specifies that these fees are paid via automatic bank draft each Wednesday after the close of business for the previous week ending Saturday. While the payment is processed on Wednesday, the gross receipts reporting is due the Saturday prior. Annex Brands retains the right to establish other due dates for these reports and payments.
It is important to note that "Gross Receipts" is specifically defined, excluding items such as sales taxes, customer refunds, and certain resale costs. Franchisees should familiarize themselves with the complete definition to ensure accurate reporting. Additionally, franchisees must participate in Annex Brands' electronic reporting system and maintain sufficient funds in their accounts for these automatic payments.