When is the international phone reservation fee of $11.50 due for a Budget franchise?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
e | $0.31 per Transaction | | Wizard Connection Start Fee | $320.00 per workstation | | Name of Fee | Amount | Due Date | Remarks | |------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | Wizard Administrative Reporting Service Fees | $150.00 per month plus $0.22 times the total value of the Club Billing transactions (with a minimum monthly Club Billing charge of $55.00). | 45 days from the date of the Licensee Settlement Statement also referred to as Composite Statement | This fee covers the reports required for the Licensee's use of Wizard as set forth in Schedule E of the Rental System Agreement, which is the Administrative Services Addendum.
Source: Item 6 — OTHER FEES(1) (FDD pages 17–29)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the international phone reservation fee of $11.50 is due 45 days from the date of the Licensee Settlement Statement, also referred to as the Composite Statement. This fee applies to each international reservation made by phone.
Budget franchisees should be aware of this fee as it directly impacts their operating expenses. The fee is intended to cover the expenses associated with reservations made through international phone sources.
Understanding the due dates for fees like this is crucial for managing cash flow and financial planning. Budget collects all fees imposed under the Rental System Agreement, and franchisees are obligated to pay these fees without any deductions. Paying close attention to the Licensee Settlement Statement is essential for tracking and managing these expenses.