What report must a Beehive Homes franchisee provide to the franchisor monthly?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
CORDS
9.1. Reporting. Franchisee shall adopt and use such accounting and record keeping procedures as may be required by Franchisor for the reasonable conduct of its business. In addition, Franchisee agrees to deliver to Franchisor monthly profit and loss statements and such other information as may be requested from time to time by Franchisor, within ten (10) days after the end of each calendar month. In addition, Franchisee agrees to deliver to Franchisor copies of all of Franchisee's tax returns within ten (10) days after filing such returns with federal or state taxing authorities.
- 9.2. Data Management Software. Franchisee covenants to fully implement and use any third party data management software (the "Software") specified by Franchisor. Currently, the Blue Step Software is the specified Software. Franchisee will not be required to pay any up-front cost for the Software, but will be required to pay all costs of use of the Software, including licensing, training and utilization of employees, and shall maintain suitable internet access and provide Franchisor with continuous online access to the Franchisee's Software database. In addition, Franchisee shall use exclusively any call system specified by Franchisor.
- 9.3. Inspections and Audits. The accounts, books, records and tax returns of the Franchisee shall be open for inspection, examination and audit by Franchisor and its authorized representatives at all times. Any such inspection, examination or audit shall be at the requesting party's cost and expense unless (i) the same is necessitated by Franchisee's failure to prepare and deliver its data, reports and statements required hereunder, (ii) the same is necessitated by Franchisee's failure to keep and preserve records as hereinabove provided, or (iii) such inspection discloses that any such data, report or statement made and delivered by Franchisee is in error to an extent of two (2%) percent or more, in any of which events, such cost and expense shall be borne and paid directly by Franchisee, or be reimbursed to Franchisor, as the case may be, immediately upon demand.
X. INSURANCE AND INDEMNIFICATION
- 10.1. Insurance. Franchisee shall acquire and maintain, at his own expense at all times during the entire Term of this Agreement, (a) Worker's Compensation insurance prescribed by law in the state in which the Home is located and Employer's Liability Insurance with $100,000/$500,000/$100,000 minimum limits;
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, franchisees are required to submit two types of reports to the franchisor on a monthly basis. First, the franchisee must deliver monthly profit and loss statements. Second, the franchisee must provide a Monthly Revenues Report detailing the financial activity of the Home for the immediately preceding calendar month to Franchisor. This report should 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. These reports are due within ten days after the end of each calendar month.
In addition to these monthly reports, Beehive Homes franchisees must also provide copies of all of their tax returns to the franchisor within ten days after filing them with federal or state taxing authorities. Franchisees are also expected to adopt and use the accounting and record-keeping procedures that Beehive Homes requires for the reasonable conduct of the business.
Failure to deliver the Monthly Revenues Reports on time will result in a late charge of $100 for each report not filed by the due date. Furthermore, Beehive Homes has the right to inspect and audit the franchisee's accounts, books, records, and tax returns at any time. While these inspections are typically at the requesting party's expense, the franchisee will bear the costs if the inspection is due to their failure to provide data, reports, or statements, failure to maintain records, or if the inspection reveals errors of 2% or more in the data, reports, or statements provided.