What kind of statement does Exit provide to the Sales Representative, and how often?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
EXIT [Trade Name] shall give Sales Representative a statement of expenses for the additional or optional services, which Sales Representative shall immediately pay.
- b) Monthly Statements. EXIT [Trade Name] shall submit to Sales Representative a monthly statement reflecting Sales Representative's portion of the expenses, fees and/or royalties and financial obligations set forth in this Agreement.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Exit provides its Sales Representatives with two types of statements. First, Exit will provide a statement of expenses for any additional or optional services the Sales Representative utilizes. The Sales Representative is expected to pay this statement immediately. These services may include long distance telephone, internet, copying, advertising, personalized stationery, postage, yard signs, and rental equipment.
Second, Exit also provides a monthly statement to Sales Representatives. This monthly statement reflects the Sales Representative's portion of expenses, fees, royalties, and other financial obligations as outlined in the Sales Representative Agreement. This provides a regular accounting of the financial relationship between the Sales Representative and Exit.
These statements are important for Sales Representatives to manage their finances and understand their obligations to Exit. The immediate payment requirement for optional services emphasizes the importance of carefully considering the use of these services. The monthly statement provides a regular overview of the financial relationship, allowing Sales Representatives to track their expenses and ensure accurate accounting.