What is the deadline for Bumper Man franchisees to submit gross sales daily?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
- (h) Fees on Late Payments. Any payment not actually received by Franchisor on or before the date due will be deemed overdue. Time is of the essence with respect to all payments to be made by Franchisee to Franchisor. Any failure to pay when due all or any fees or other amounts due to Franchisor or any of its Affiliates will constitute a material breach of this Agreement. Franchisee will pay to Franchisor a late fee in the amount described in the Summary Page for each report that Franchisee fails to timely submit to Franchisor pursuant to Section 4(f) and each payment not received by Franchisor by the prescribed due date. This late fee is not interest or a penalty; the late fee will compensate Franchisor for the administrative and management costs associated with collecting late payments and reports.
Source: Item 23 — RECEIPTS (FDD pages 45–180)
What This Means (2025 FDD)
Based on the 2025 Bumper Man Franchise Disclosure Document, the specific deadline for franchisees to submit gross sales daily is not explicitly detailed in the provided excerpts. However, the document does mention the requirement for franchisees to submit reports and data, and failure to do so can result in a late fee.
Item 4(f) and Section 4(h) generally discuss the reporting requirements and fees associated with late submissions, but they do not specify the exact timeframe for submitting gross sales figures. Section 18(a) outlines potential termination events, including the failure to submit reports or invoices in a timely manner. For example, failing to submit invoices for processing for seven or more consecutive business days without prior approval from Bumper Man could lead to termination.
Prospective franchisees should clarify the exact reporting deadlines for gross sales and other financial data with Bumper Man during their due diligence. Understanding these deadlines is crucial for maintaining compliance with the franchise agreement and avoiding late fees or potential termination.