At what times must a Golden Krust Caribbean Restaurant franchisee transmit data to the franchisor?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
You must: (1) maintain an electronic connection between your systems and our systems and provide us with all user IDs and passwords necessary for us to independently access files and other information stored on your systems; (2) use the systems in accordance with all policies and operational procedures we issue from time to time; (3) transmit data to us at the times we specify; (4) maintain your systems in good working order at all times; (5) promptly install upgrades, additions, changes, modifications, substitutions and/or replacements of hardware, software, data connectivity, electrical power, and other computer-related facilities as we direct; (6) ensure that your employees are adequately trained in the use of such systems and our related policies and procedures; and (7) implement at all times appropriate physical and electronic security as is necessary to secure your computer system and to comply any standards and policies that we may issue (without obligation to do so) in this regard.
Source: Item 22 — CONTRACTS (FDD page 35)
What This Means (2024 FDD)
According to the 2024 Golden Krust Caribbean Restaurant Franchise Disclosure Document, franchisees must transmit data to the franchisor at the times specified by Golden Krust Franchising, Inc.
This means that as a franchisee, you will be required to have systems capable of electronically connecting with Golden Krust's systems. You must also provide Golden Krust with all necessary user IDs and passwords to independently access the data stored on your systems. It is important to remain compliant with the data transmission times that Golden Krust specifies, as these may change over time.
Franchisees are also responsible for maintaining these systems, installing updates, and ensuring employees are properly trained on the systems. The specific data to be transmitted and the frequency of transmission are not detailed in this document, but will be outlined by Golden Krust. Prospective franchisees should clarify the exact data reporting requirements and transmission schedules during their due diligence.