What is the deadline for Fitstop franchisees to deliver a written statement of Gross Revenue each month?

According to Fitstop's 2024 Franchise Disclosure Document, franchisees must deliver a written statement of Gross Revenue and other consolidated information to Fitstop within seven calendar days of the end of each month. This statement must be in the form and method prescribed by Fitstop.

This requirement ensures that Fitstop receives timely financial data from its franchisees, allowing them to calculate royalty fees accurately and monitor the overall financial health of the franchise system. Franchisees need to maintain accurate records and establish systems to compile and submit this information promptly each month.

In addition to the monthly Gross Revenue statement, Fitstop franchisees also have other accounting and reporting obligations, including providing member information, informing Fitstop of retail price changes at least 30 days before they take effect, complying with accounting and reporting obligations set out in the manuals, providing annual accounts within 90 days of the end of each financial year, and providing monthly revenue figures and quarterly profit and loss statements.