By what means can a Bananas Smoothies Frozen Yogurt franchisee submit royalty reports?
Bananas_Smoothies_Frozen_Yogurt Franchise · 2025 FDDAnswer from 2025 FDD Document
15.02 Royalty Reports. Franchisee shall submit to Franchisor weekly, by facsimile, electronic mail or other system or systems the Franchisor designates on a system wide basis, no later than the date each Royalty and Service Fee payment (see Paragraph 10.03) is due during the term of this Agreement, a statement on forms prescribed by Franchisor, accurately reflecting all Gross Sales during the preceding week and such other data or information as Franchisor may require. Franchisee shall submit to Franchisor by the twenty-fifth (25th) day of each month copies of any state or local sales tax returns for the preceding month and a monthly operating statement in the form prescribed by Franchisor. If Franchisee shall fail to provide Franchisor with the sales reports required in this Paragraph 15.02, Franchisor shall be entitled, at its discretion and in whichever situations it deems appropriate, to apply an annual growth rate on gross sales of eight percent (8%), including, but not limited to, for the purpose of calculating any Royalty and for enforcement and collection of any amounts due to Franchisor under this Agreement.
Source: Item 23 — RECEIPT (FDD pages 58–231)
What This Means (2025 FDD)
According to the 2025 Bananas Smoothies Frozen Yogurt FDD, franchisees must submit royalty reports to the Franchisor weekly. These reports must accurately reflect all Gross Sales during the preceding week and include any other data or information the Franchisor requires.
The acceptable methods for submitting these reports are by facsimile, electronic mail, or any other system the Franchisor designates on a system-wide basis. The reports are due no later than the date each Royalty and Service Fee payment is due.
In addition to the weekly royalty reports, Bananas Smoothies Frozen Yogurt franchisees must also submit copies of any state or local sales tax returns for the preceding month and a monthly operating statement by the twenty-fifth (25th) day of each month. These reports must be on forms prescribed by the Franchisor.
Failure to provide the required sales reports may result in the Franchisor applying an annual growth rate of eight percent (8%) on gross sales, which could impact the calculation of royalties and any amounts due to the Franchisor.