What is the definition of 'Monthly Revenues Report' in the context of the Beehive Homes franchise agreement?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
of Franchise Royalty. The calculation and payment of the Franchise Royalty specified in Section 4.3 above shall be made as follows:
- (a) On or before the 10th day of each calendar month Franchisee shall provide to Franchisor a report the financial activity of the Home for the immediately preceding calendar month to Franchisor. The report shall show Gross Revenues, all monies received or accrued, all sales or other services performed, and such other information concerning the financial affairs of Franchisee as Franchisor may reasonably require. For purposes of this Agreement, such information shall be referred to as the "Monthly Revenues Report."
- (b) The Franchise Royalty shall be due and payable on the same date that the corresponding Monthly Revenues Report is due, and shall be paid concurrently with the submission of the corresponding Monthly Revenues Report.
- (c) If the Franchisee fails to deliver the required Monthly Revenues Reports to Franchisor on or before the 10th day of each month, a late charge of $100.00 shall be assessed for each Monthly Revenues Report which is not timely filed.
- (d) If the Franchisee fails to pay any Franchise Royalty when due, Franchisee shall be assessed a one-time late charge equal to the lesser of ten percent (10%) of the Franchise Royalty due or, if less, the maximum late charge assessable under the laws of the state in whic
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the "Monthly Revenues Report" is defined within Section 4.4 of the franchise agreement. This report is a key component of the financial relationship between Beehive Homes and its franchisees.
The Monthly Revenues Report is a detailed financial statement that each Beehive Homes franchisee must provide to the franchisor on or before the 10th day of each calendar month. This report outlines the financial activity of the Beehive Homes location for the preceding month. Specifically, it must include Gross Revenues, all monies received or accrued, all sales or other services performed, and any other financial information that Beehive Homes reasonably requires.
The timely submission of the Monthly Revenues Report is crucial because the Franchise Royalty payment is due on the same date. Failure to submit the report by the 10th of the month results in a late charge of $100.00 for each late report. Additionally, if the Franchise Royalty payment is not made on time, Beehive Homes will assess a late charge equal to the lesser of ten percent (10%) of the Royalty due or the maximum late charge permitted under the laws of the state in which the Home is located.
In summary, the Monthly Revenues Report is a comprehensive financial document that Beehive Homes franchisees must submit monthly to ensure accurate calculation and timely payment of Franchise Royalties. It plays a vital role in maintaining financial transparency and adherence to the franchise agreement.