When is the Royalty and Activity Report due each week for a C3 Wellness Spa franchise?
C3_Wellness_Spa Franchise · 2024 FDDAnswer from 2024 FDD Document
Royalty and Activity Reports: On the Due Date each week, Franchisee shall report, transmit, confirm, and/or otherwise make available to Franchisor, as designated by Franchisor, a Royalty and Activity Reports containing information as designated by Franchisor and relating to the Gross Sales, financial performance, and operations of the Franchised Business for the preceding weekly Accounting Period (the "Royalty and Activity Report"). Franchisor shall have the right to verify such royalty payments from time to time, as it deems necessary in any reasonable manner.
Source: Item 23 — RECEIPTS (FDD pages 59–293)
What This Means (2024 FDD)
According to C3 Wellness Spa's 2024 Franchise Disclosure Document, franchisees must submit Royalty and Activity Reports weekly. These reports are due on the Due Date each week, as designated by C3 Wellness Spa. The franchisee is responsible for reporting, transmitting, confirming, and making available the Royalty and Activity Report to C3 Wellness Spa.
The Royalty and Activity Report must contain information designated by C3 Wellness Spa, relating to the Gross Sales, financial performance, and operations of the franchised business for the preceding weekly Accounting Period. C3 Wellness Spa retains the right to verify royalty payments periodically, using any reasonable method they deem necessary.
It is important for prospective C3 Wellness Spa franchisees to understand the specific requirements for the Royalty and Activity Report, including the exact information required and the method of submission. Franchisees should also be prepared for potential audits of their royalty payments. Understanding these obligations is crucial for maintaining compliance and a positive relationship with C3 Wellness Spa.