How often do Deck Medic franchisees pay the royalty fee?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Remarks | ||
| (Note 1) | |||
| Royalty (Note 2 and 3) | 6% of Gross Sales | Monthly on the second Wednesday of each month | Will be debited automatically from your bank account by ACH or other means designated by us. |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the royalty fee is paid monthly. Specifically, it is due on the second Wednesday of each month. The royalty fee is 6% of the franchisee's monthly Gross Sales. Deck Medic will automatically debit the royalty fee from the franchisee's bank account through ACH or another designated method.
Gross Sales are defined as the total dollar sales from all business and customers of the Deck Medic Business. This includes revenues from any source, whether in cash, credit, or other forms of consideration. Gross Sales do not include sales taxes that the franchisee collects and remits or authorized promotional discounts provided to customers.
Franchisees are required to sign an ACH Authorization Form, which permits Deck Medic to electronically debit their designated bank account for all fees payable. Franchisees must also deposit the Gross Sales of their Deck Medic Business into designated bank accounts that are subject to ACH authorization. Additionally, franchisees must install and use pre-authorized payment, point of sale, credit card processing, automatic payment, automated banking, electronic debit, and/or electronic funds transfer systems designated by Deck Medic.