factual

What is the deadline for submitting Gross Sales reports to Chicken Guy?

Chicken_Guy Franchise · 2025 FDD

Answer from 2025 FDD Document

  • **E.

Remittance Reports.** Within 3 business days after the end of each fiscal week (as defined by Chicken Guy from time to time), Franchisee shall submit to Chicken Guy in writing by electronic mail, polling by computer or such other form or method as Chicken Guy may designate the amount of Gross Sales from the Franchised Restaurant during the preceding fiscal week and such other data or information as Chicken Guy may require.

Source: Item 22 — CONTRACTS (FDD page 50)

What This Means (2025 FDD)

According to Chicken Guy's 2025 Franchise Disclosure Document, franchisees must submit their Gross Sales reports within 3 business days after the end of each fiscal week. These reports must be submitted in writing via electronic mail, computer polling, or any other method designated by Chicken Guy. The report should include the amount of Gross Sales from the Franchised Restaurant during the preceding fiscal week, along with any other data or information Chicken Guy requires.

This requirement ensures that Chicken Guy receives timely information about the financial performance of each franchise location. This allows them to calculate royalty fees and advertising fees accurately and promptly. Franchisees should be diligent in maintaining accurate sales records and submitting reports on time to avoid any potential issues or discrepancies.

Failure to submit these reports on time can lead to Chicken Guy estimating the Gross Sales and transferring funds from the franchisee's account based on that estimate. If Chicken Guy determines that a franchisee has underreported Gross Sales, they can initiate an immediate transfer from the franchisee's account for the underpaid amount, including interest. Therefore, it is crucial for franchisees to adhere to the reporting deadlines and maintain transparent and accurate sales records.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.