When are royalty reports due for a Bananas Smoothies Frozen Yogurt franchise?
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 Franchise Disclosure Document, franchisees must submit royalty reports weekly. These reports, accurately reflecting all Gross Sales during the preceding week and other required data, are due no later than the date each Royalty and Service Fee payment is due. The reports must be submitted via facsimile, electronic mail, or other system designated by Bananas Smoothies Frozen Yogurt.
In addition to the weekly royalty reports, Bananas Smoothies Frozen Yogurt franchisees are required to submit copies of any state or local sales tax returns for the preceding month by the twenty-fifth (25th) day of each month. Franchisees must also provide a monthly operating statement in the form prescribed by the franchisor.
Failure to provide the required sales reports allows Bananas Smoothies Frozen Yogurt to apply an annual growth rate of eight percent (8%) on gross sales. This applied growth rate can be used for calculating any Royalty and for enforcement and collection of any amounts due to Bananas Smoothies Frozen Yogurt under the agreement.