By what date must a Dryject franchisee report their monthly Gross Revenues?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
You must report to us your monthly Gross Revenues by the 15th of the following month. The term "Gross Revenues" means the amount of all receipts for the sale of any products or services by your Franchised Business and income of every other kind and nature related to the Franchised Business, whether for products or services, cash, exchange, or credit, regardless of collection in a case of credit, less any refunds; provided, however, that "Gross Revenues" will not include any sales taxes or other taxes collected by Franchise Owner for transmittal to the appropriate taxing authority.
Source: Item 6 — OTHER FEES (FDD pages 14–18)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, franchisees are required to report their monthly Gross Revenues by the 15th of the following month. Gross Revenues include all receipts from the sale of products or services related to the franchised business, encompassing income of all types, whether in cash, exchange, or credit, but excluding sales taxes collected for transmittal to the appropriate taxing authority.
This reporting deadline is crucial because it directly impacts the calculation and payment of the Royalty Service Fee and the National Marketing Fund contribution. Both fees are calculated based on a percentage of the franchisee's Gross Revenues. Specifically, the Royalty Service Fee is 8% of Gross Revenues, while the National Marketing Fund contribution is 2% of Gross Revenues. Failing to report accurately or on time can lead to penalties, as Dryject may conduct audits and impose Non-Compliance Fees if under-reporting exceeds 5%.
Furthermore, Dryject requires franchisees to authorize automatic withdrawals via Electronic Funds Transfer (EFT) for all fees. This means that franchisees must ensure their bank accounts are properly set up to handle these debits. Franchisees may also be required to complete forms for payments via Visa or MasterCard, maintaining sufficient credit and advising Dryject of any changes to their credit status. This system ensures timely payments and reduces administrative burdens for both the franchisee and Dryject.