What is the deadline for submitting the Gross Revenue report to Dermani Medspa each week?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
We require that you must pay your royalties and System Marketing Fund contributions on a weekly basis. For this purpose, the term "Week" means the period starting with the beginning of business on Monday and concluding at the close of business on the following Sunday (or, if the dermani MEDSPA® is not open on a Sunday, the immediately preceding business day), or any other period of time that we may designate. All payments must be made by electronic funds transfer ("EFT"), and you must establish an appropriate EFT and sign the EFT authorization forms that we specify. Currently, you must send us a report of Gross Revenue and other sales and operating data by close of business on Tuesday, for the Week ending the immediately preceding Sunday. We will draft from your designated bank account, per our EFT process on Wednesday. You must submit or deliver to us any and all reports, statements and/or other information on a timely basis, which may include electronically polled data that we obtain from your point-of-sale system.
Source: Item 6 — OTHER FEES (FDD pages 14–20)
What This Means (2025 FDD)
According to Dermani Medspa's 2025 Franchise Disclosure Document, franchisees must submit a report of Gross Revenue and other sales and operating data by close of business on Tuesday for the week ending the immediately preceding Sunday. Dermani Medspa defines "Week" as starting at the beginning of business on Monday and ending at the close of business on the following Sunday (or the immediately preceding business day if the location is not open on Sunday).
This weekly reporting requirement is tied to the payment of royalties and System Marketing Fund contributions, which are also due weekly. Dermani Medspa will draft the funds from the franchisee's designated bank account on Wednesday via electronic funds transfer (EFT). Franchisees must establish an appropriate EFT and sign the required authorization forms.
The FDD also indicates that Dermani Medspa reserves the right to modify its policies regarding revenue reporting and the definition of "Gross Revenue" due to changes in circumstances, business practices, and technology. This means the specific reporting deadline could change during the term of the franchise agreement. Franchisees are also obligated to provide any other reports, statements, or information requested by Dermani Medspa on a timely basis, which may include data polled electronically from the franchisee's point-of-sale system.