What is the process for Focalpoint Coaching to debit a franchisee's account for failure to submit reports?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 failure to submit the require reports. |
Source: Item 6 — Other Fees (FDD pages 14–20)
What This Means (2025 FDD)
According to the 2025 Focalpoint Coaching Franchise Disclosure Document, if a franchisee fails to submit required reports as outlined in the Franchise Agreement, Focalpoint Coaching has the right to debit the franchisee's account. The fee for failing to submit required reports is $75. Focalpoint Coaching may debit the franchisee's account for this amount on the 5th day of the month following the failure to submit the required reports.
This policy underscores the importance of timely and accurate reporting to Focalpoint Coaching. Franchisees should ensure they understand the reporting requirements detailed in the Franchise Agreement to avoid incurring this fee. Setting up reminders or systems to ensure timely submission can help franchisees avoid this charge.
The ability for Focalpoint Coaching to directly debit a franchisee's account highlights the necessity for franchisees to maintain sufficient funds in their designated Electronic Depository Transfer Account (EDTA). Franchisees should also be aware of all due dates for various fees and contributions to prevent additional penalties such as late fees or insufficient fund fees. This also means that the franchisee needs to authorize Focalpoint Coaching to debit their account automatically for the Royalty, Fund contributions, and other amounts due under the Franchise Agreement.