How does Focalpoint Coaching collect the fee for failure to submit required reports?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
funds. |
| Column 1 | Column 2 | Column 3 | Column 4 |
|---|---|---|---|
| Type of Fee(1) | Amount | Due Date | Remarks |
| Failure to Submit Required Reports | $75 | As incurred | If you fail to send us the reports required by the Franchise Agreement, we may debit your account this amount on the 5th day of the month following your fa |
Source: Item 6 — Other Fees (FDD pages 14–20)
What This Means (2025 FDD)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the fee for failing to submit required reports is $75. This fee is incurred if a franchisee does not send the reports required by the Franchise Agreement. Focalpoint Coaching may then debit the franchisee's account for $75 on the 5th day of the month following the failure to submit the required reports.
This means that it is crucial for a Focalpoint Coaching franchisee to maintain timely and accurate submission of all required reports to avoid incurring this fee. The automatic debit from the franchisee's account underscores the importance Focalpoint Coaching places on receiving these reports promptly. Franchisees should ensure they understand exactly what reports are required, when they are due, and the proper method for submitting them.
It is also important to note that Focalpoint Coaching uses an Electronic Depository Transfer Account (EDTA) for various payments, as outlined in Item 6. Franchisees must authorize Focalpoint Coaching to debit their business checking account automatically for royalties, fund contributions, and other amounts due under the Franchise Agreement. Therefore, the $75 fee for late reports would likely be collected through this same EDTA system. Franchisees need to ensure sufficient funds are available in their EDTA to cover such fees to avoid additional penalties like insufficient funds fees.