If Fitstop designates another method for remitting Fund Contributions, where will this information be communicated?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
You will be required to contribute to the Fund an amount equal to two percent (2%) of the Gross Revenue of the Franchised Business ("Fund Contributions"), which shall be remitted to us at the same time and in the same manner as your Royalty Fees (unless we designate another method upon at least 30 days' prior written notice via the Manual(s) or otherwise).
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the Fund Contributions, which are 2% of the Gross Revenue of the Franchised Business, are typically remitted at the same time and in the same manner as the Royalty Fees. However, Fitstop may designate another method for remitting these Fund Contributions.
Fitstop will communicate any changes to the remittance method via written notice. This notice will be provided at least 30 days in advance through the Manual(s) or otherwise.
It is important for prospective franchisees to understand that Fitstop retains the right to modify the payment methods for Fund Contributions, and they should pay close attention to any updates or notices provided by Fitstop to ensure compliance with the current requirements.