What is the annual interest rate charged on late payments to Beyond Juicery Eatery?
Beyond_Juicery_Eatery Franchise · 2025 FDDAnswer from 2025 FDD Document
I, the authorized representative and agent for the Restaurant for the account identified below referenced, authorize Beyond Juicery + Eatery Franchising, LLC (referred to as "Franchisor") to debit on every Wednesday from Franchisee's bank account, the amount of Royalty and Marketing Fee due to the Franchisor based on Gross Sales of the above referenced Beyond Juicery + Eatery® Restaurant, and any Late Fees or Interest, for each and every preceding week, ending on Sunday, and any other fee that may be due and owing to Franchisor or any affiliate of Franchisor. I also authorize Franchisor to debit any other fees and purchases associated with the Restaurant including but not limited to the Marketing Fee, liquidated damages, non-compliance fees, the required local advertising expenditures not incurred, required purchases, as well as any other fees and amounts that may become due to Franchisor or any affiliate of Franchisor.
Source: Item 23 — RECEIPTS (FDD pages 60–337)
What This Means (2025 FDD)
According to the 2025 FDD, Beyond Juicery Eatery franchisees may be subject to late fees and interest on overdue payments. The Electronic Funds Transfer (EFT) Authorization agreement allows Beyond Juicery Eatery to debit a franchisee's bank account every Wednesday for royalties, marketing fees, late fees, and interest based on the previous week's gross sales.
This means that if a franchisee fails to pay the required royalties or marketing fees on time, Beyond Juicery Eatery is authorized to automatically withdraw the outstanding amount, along with any applicable late fees and interest charges, directly from the franchisee's bank account. This ensures that Beyond Juicery Eatery can promptly collect any overdue amounts.
The FDD excerpt does not specify the exact interest rate or the amount of late fees that Beyond Juicery Eatery charges on late payments. A prospective franchisee should inquire about the specific interest rate and late fee amounts to fully understand the financial implications of late payments.