What other failures besides NSF checks trigger the Late Fee for a Best Brains franchise?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Add-on Programs incur a monthly royalty of 7% of Gross Add-on Program Sales. | |||
| Technology Fee | $40 per month for 0-100 students $60 per month for 101- 200 students $80 per month for 200+ students | Payable monthly | The Company may require the Franchisee to utilize a computer system, including without limitation a cloud-based portal for day-to-day operations of the franchise. FA Secs. 2(C) and 5(S). |
| Brand Development Fund | $1 per subject per student up to $3, subject to a $250 per month minimum | Payable the 19th of each month | FA Sec. 2(D). |
| Interest | 2% per month, or the maximum amount allowed by law, whichever is less | Owed on past due amounts | You must pay interest on any amounts owed to us from the date due until fully paid. FA Sec. 2(E). |
| Late Fee | $100 per incident | As incurred | Applies to each NSF check, late payment, or failure to timely provide reports and financial statements. FA Sec. 2(F). |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2025 FDD)
According to the 2025 Best Brains Franchise Disclosure Document, a $100 late fee is incurred for each incident of late payment or failure to provide reports and financial statements in a timely manner, in addition to NSF checks. This fee is charged per incident.
For a prospective Best Brains franchisee, this means that it's crucial to ensure all payments are made on time and that all required reports and financial statements are submitted promptly. Failure to do so will result in a $100 late fee for each occurrence, which can add up quickly if these issues are not addressed.
Franchisees should set up systems to track due dates for payments and reports to avoid these fees. Paying attention to these deadlines and maintaining organized financial records are essential for managing costs and maintaining a positive relationship with Best Brains.