When is the Wizard Administrative Reporting Service Fees due for a Budget franchise?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Notes:
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- Unless otherwise stated, all fees are non-refundable and are uniformly imposed and collected by, and payable to, Budget. Budget may require you to pay by electronic funds transfer ("EFT"), in which case you must sign and deliver the documents necessary for Budget to implement this system and make the required funds available for withdrawal on or before the designated due date.
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- The Budget License Agreement defines "Gross Revenue" as "any and all sums of every nature and character (whether in cash, credit, or otherwise) payable (collected or uncollected) under closed rental agreements, vehicle lease agreements, sublicense agreements, or otherwise, in Licensee's operation of its Rental Business including time, mileage, damage or loss waiver, insurance products, service fees, surcharges, and any other charges for any ancillary goods or services provided directly or indirectly in connection with Licensee's Rental Business, including baby seats, navigational devices, portable XM radios and/or DVD players, tire chains, locks, ropes, hitches, pads, boxes, portable lifts, and other products and services associated with loading, unloading, securing contents and packing trucks and cars, and specifically excluding only the following: (a) any national, state/province, or local sales or other similar taxes separately stated, collected from customers and paid by Licensee to the applicable airport authority; (b) any amounts received as insurance proceeds or otherwise for damage to vehicles or other property of Licensee, or for loss, conversion, or abandonment of such vehicles; (c) revenue derived from the sale of fuel furnished at the time of rental; and (d) customer facility fees ("CFC"), collected from customers and paid by Licensee to the applicable governmental authority."
Source: Item 6 — OTHER FEES(1) (FDD pages 17–29)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the timing of Wizard Administrative Reporting Service Fees is not explicitly detailed in the provided excerpts. However, the FDD does mention several fees related to the Wizard system and other administrative services.
Specifically, the FDD states that Budget may require franchisees to pay fees via electronic funds transfer (EFT), with franchisees needing to sign and deliver the necessary documents to allow for withdrawals on or before the designated due date. Additionally, the document mentions fees associated with payment processing, accounts receivable processing, and voucher processing, all of which are incurred when a Budget franchise accepts various forms of payment. The fees for accounts receivable and voucher processing are due when the transaction is processed.
Prospective Budget franchisees should inquire with the franchisor about the specific due dates for the Wizard Administrative Reporting Service Fees, as well as any other fees associated with the Wizard system. Understanding the payment schedule and methods is crucial for managing cash flow and ensuring compliance with the franchise agreement.