When must a Benihana franchisee deliver the written Gross Sales Statement to BNC each month?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
- 8.1 On the fifteenth (15th) day of each month Franchisee must deliver to BNC a written statement of Gross Sales for the preceding calendar month ("Gross Sales Statement"). The Gross Sales Statement must be certified as accurate by Franchisee, a financial officer of Franchisee, or by Franchisee's principal accountant responsible for overseeing the books and records of the Restaurant.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, a franchisee is required to submit a written Gross Sales Statement to BNC (Benihana National Corp.) by the fifteenth day of each month. This statement must accurately reflect the gross sales for the preceding calendar month.
The Gross Sales Statement needs to be certified as accurate. This certification can be provided by the franchisee themselves, a financial officer of the franchisee's organization, or the franchisee's principal accountant who is responsible for overseeing the restaurant's financial records.
This requirement ensures that Benihana receives timely and verified sales data from its franchisees, which is essential for calculating royalties, advertising contributions, and monitoring the financial performance of each location. Failure to provide an accurate and timely Gross Sales Statement can result in penalties or further audits by Benihana.