What is the deadline for a Beggars Pizza franchisee to deposit revenues into the designated bank account?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee must maintain a designated bank account for the operation of the Beggars Restaurant.
Franchisee must deposit all revenues from the operation of the Beggars Restaurant in such bank account within two (2) days of receipt including, without limitation, cash, checks, credit card receipts, or the value of other forms of payment.
The designated bank account must be located within the United States and governed by its laws.
Source: Item 23 — RECEIPT (FDD pages 39–192)
What This Means (2025 FDD)
According to the 2025 Beggars Pizza Franchise Disclosure Document, a franchisee must deposit all revenues from the operation of their Beggars Pizza restaurant into a designated bank account within two days of receipt. This includes all forms of payment, such as cash, checks, credit card receipts, and other payment methods.
This requirement ensures that all revenues are properly accounted for and available for any necessary withdrawals or transfers. The designated bank account must be located within the United States and governed by its laws, providing a secure and regulated environment for the franchisee's funds.
This requirement is fairly standard in the franchise industry, as it allows the franchisor to monitor the franchisee's financial performance and ensure that royalties and other fees are paid in a timely manner. It also helps to protect the franchisee's assets by ensuring that they are held in a secure and regulated financial institution. Beggars Pizza also requires that the franchisee provide the bank and account number, a voided check, and written authorization for the Supplier to withdraw funds from the bank account via EFT without further consent.