Where can I find the meaning of 'Monthly Revenues Report' in the Beehive Homes Franchise Agreement?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
2.12. "Monthly Revenues Report" has the meaning set forth in Section 4.4 herein.
4.4.
Determination and Method of Payment 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 which the Home is located.
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the definition of "Monthly Revenues Report" can be found in Section 4.4 of the franchise agreement. This report is a key component of the financial relationship between the franchisee and Beehive Homes.
The Monthly Revenues Report is a detailed account of the Home's financial activity for the preceding month. Specifically, Beehive Homes requires franchisees to submit this report on or before the 10th day of each calendar month. The report 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.
This report is crucial because it directly ties into the calculation and payment of the Franchise Royalty. The Franchise Royalty is due on the same date as the Monthly Revenues Report. Failure to submit the report on time results in a late charge of $100 for each late report. Additionally, late payment of any Franchise Royalty incurs a one-time late charge equal to the lesser of ten percent (10%) of the Franchise Royalty due or the maximum late charge assessable under the laws of the state in which the Home is located. Therefore, understanding and diligently submitting the Monthly Revenues Report is essential for a Beehive Homes franchisee to maintain compliance and avoid penalties.