When is the Gross Revenue Report due to Baya Bar from the franchisee?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
- 6.1.3 Gross Revenue Reports.
Franchisee shall, on the Tuesday following the close of each calendar week (Monday through Sunday), furnish Franchisor with a report showing Franchisee's Gross Revenue at or from the Franchised Business and/or made pursuant to the rights granted hereunder during such period (the "Gross Revenue Report").
The Gross Revenue Report shall be in such form and
shall contain such information as Franchisor may from time to time prescribe. Franchisor reserves the right to establish a point of sale system ("POS System") that Franchisor may require Franchisee to use in the operation of the Franchised Business. At Franchisor's option, Franchisee shall submit the Gross Revenue Report by an electronic transfer of data via the POS System at the times and interims then specified by Franchisor.
- 6.1.4 Method of Payment.
Franchisee shall, together with the submission of the Gross Revenue Report, pay Franchisor the Royalty Fee and the Brand Fund Contribution, as defined and more particularly described in Article 13, then due.
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, franchisees must submit a Gross Revenue Report to Baya Bar on the Tuesday following the close of each calendar week. The calendar week runs from Monday through Sunday.
This report must detail the franchisee's Gross Revenue generated at or from the Franchised Business, or made pursuant to the rights granted under the franchise agreement, during that specific week. The report should be in a format and contain information as Baya Bar may prescribe from time to time.
Baya Bar retains the right to implement a point-of-sale (POS) system that franchisees may be required to use. If Baya Bar exercises this option, franchisees will need to submit the Gross Revenue Report electronically through the POS system at the times and intervals specified by Baya Bar. Franchisees are also required to submit their Royalty Fee and Brand Fund Contribution along with the Gross Revenue Report.