What is the definition of 'Monthly Revenues Report' in the Beehive Homes franchise agreement?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
y 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' refers to the financial report that a franchisee must provide to Beehive Homes each month. This report details the financial activity of the Beehive Homes location for the preceding month.
The Monthly Revenues Report must include gross revenues, all monies received or accrued, all sales or other services performed, and any other financial information that Beehive Homes may reasonably require. Franchisees are required to submit this report on or before the 10th day of each calendar month.
Submitting the Monthly Revenues Report is directly tied to royalty payments. The franchise royalty is due on the same date as the Monthly Revenues Report, and both must be submitted concurrently. Failure to deliver the Monthly Revenues Report on time results in a late charge of $100 for each late report. Additionally, failure to pay any franchise royalty when due will result in 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 which the Home is located. Therefore, franchisees must maintain accurate records and adhere to the reporting schedule to avoid penalties and ensure compliance with the franchise agreement.