Does the Cordova franchisee receipt table include the amount of the receipt?
Cordova Franchise · 2025 FDDAnswer from 2025 FDD Document
Supplementing the foregoing, Gross Sales further includes the total gross amount of revenues, receipts, and sales from whatever source derived from and/or derived by Franchisee (including any person and/or Corporate Entity acting on behalf of Franchisee) from business conducted within and/or outside the Operating Territory that is related to the Franchised Business and/or a Competitive Business located and/or operated within the Operating Territory, outside the Operating Territory, and/or otherwise (the foregoing does not constitute approval for Franchisee's operation of a Competitive Business and/or the operation of a Cordova Business outside of the Operating Territory). Gross Sales do not include sales or use taxes collected by Franchisee and authorized promotional discounts that Franchisee provides to clients.
Source: Item 23 — RECEIPTS (FDD pages 44–195)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the provided excerpts do not contain a franchisee receipt table, nor do they mention the specific data points included on franchisee receipts. The excerpts do define 'Gross Sales' as the total amount of revenues, receipts, and sales from the Franchised Business, but it does not specify what information must be recorded on individual receipts. The excerpts also discuss various fees payable to Cordova, such as a Technology Fee capped at $750 per month, Brand Development Fund Fees, Non-Compliance Fees, Supplemental Training Fees, and Quality Assurance Audit Fees. However, these fees are separate from the details of customer receipts.
Without a sample receipt or a description of required receipt fields, it is impossible to determine whether the amount of the receipt is a required element. The FDD excerpts focus more on defining what constitutes 'Gross Sales' for royalty calculation purposes and outlining the various fees that franchisees must pay to Cordova. The definition of Gross Sales includes revenues, receipts, and sales, but it does not specify the format or content of individual sales receipts.
A prospective Cordova franchisee should ask the franchisor for a sample receipt or a detailed list of required fields for receipts to understand what information must be captured for each transaction. This information is crucial for accurate record-keeping, royalty calculations, and potential audits. Understanding the required receipt format will also help franchisees choose appropriate point-of-sale systems and accounting practices.
In summary, while the FDD excerpts discuss 'receipts' in the context of Gross Sales, they do not provide details on whether the amount of the receipt is a required element on franchisee-generated receipts. A prospective franchisee should seek clarification from Cordova regarding the specific requirements for sales receipts.