What day of the week are Bang Cookies royalty fee payments due?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Royalty and Activity Reports: On the Due Date each week, Franchisee shall report, transmit, confirm, and/or otherwise make available to Franchisor, as designated by Franchisor, a Royalty and Activity Reports containing information as designated by Franchisor and relating to the Gross Sales, financial performance, and operations of the Franchised Business for the preceding weekly Accounting Period (the "Royalty and Activity Report"). Franchisor shall have the right to verify such royalty payments from time to time
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, royalty and activity reports, along with royalty fee payments, are due each week on the "Due Date". The FDD does not specify which day of the week is considered the "Due Date".
As a prospective franchisee, it's important to clarify with Bang Cookies the specific day of the week designated as the "Due Date" for royalty payments. Understanding this schedule is crucial for managing cash flow and ensuring timely payments to avoid potential penalties or breaches of the franchise agreement.
Franchisees should also inquire about the methods of payment accepted by Bang Cookies, as the FDD mentions the possibility of ACH transfers or other means. Confirming these details upfront will help in setting up the necessary payment arrangements and avoiding any surprises related to payment processing.