How often will Buildingstars provide a Monthly Revenue Statement to the franchisee?
Buildingstars Franchise · 2025 FDDAnswer from 2025 FDD Document
- D. Management Services BUILDINGSTARS will provide FRANCHISEE with billing and collection services on its behalf. However, BUILDINGSTARS is not responsible if the Customer fails to pay nor is BUILDINGSTARS required to commence any further action other than as set forth herein if they do not pay. FRANCHISEE is responsible for any and all collection activities if a Customer is delinquent in payment.
- a. Authorization to BUILDINGSTARS. FRANCHISEE hereby authorizes BUILDINGSTARS to bill each Customer on a scheduled basis, accept payments from customer accounts, collect accounts receivable, and maintain revenue records. BUILDINGSTARS will provide Customer imprinted invoices, envelopes and postage. In addition, BUILDINGSTARS will provide ongoing phone contact and reminder notices, both mailed and faxed to delinquent Customers on a monthly basis. Once a month BUILDINGSTARS will provide FRANCHISEE a Monthly Revenue Statement. FRANCHISEE hereby authorizes BUILDINGSTARS to collect cash and other forms of payment from accounts to which FRANCHISEE has rendered services or products, endorse FRANCHISEE'S name on and deposit checks, sign its name on liens, and take any other action necessary to carry out the terms of this Agreement.
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2025 FDD)
According to Buildingstars' 2025 Franchise Disclosure Document, Buildingstars will provide franchisees with a Monthly Revenue Statement once a month. This statement is part of the management services Buildingstars offers, which include billing and collection services on behalf of the franchisee.
This means that as a Buildingstars franchisee, you can expect to receive a detailed report of your revenue each month from Buildingstars. This statement is essential for tracking your business performance, managing your finances, and ensuring accurate record-keeping. Buildingstars also handles billing and collections from customers, which alleviates the franchisee of these administrative tasks.
It is important to note that while Buildingstars provides billing and collection services, they are not responsible if a customer fails to pay. The franchisee is ultimately responsible for collection activities if a customer becomes delinquent. However, Buildingstars will provide ongoing phone contact and reminder notices to delinquent customers on a monthly basis.
Overall, the monthly revenue statement is a valuable tool for Buildingstars franchisees, providing them with essential information for managing their business and ensuring financial transparency. This service, combined with Buildingstars' billing and collection support, can help franchisees focus on growing their business and providing quality service to their customers.