When is the Insurance fee due for a Healthsource Chiropractic franchise?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
you fail to submit required reports or financial statements. |
| Type of Fee (1) | Amount | Due Date | Remarks |
|---|---|---|---|
| Late Reporting Fee | $100 per week | 10th day of the month following any month for which any required report is not timely submitted. |
Source: Item 6 — Other Fees (FDD pages 17–23)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the insurance fee is due 'on demand.' This means that the fee is payable immediately when Healthsource Chiropractic requests it.
The amount of the insurance fee is equivalent to the 'amount of unpaid premiums and related costs.' This implies that the fee is charged if a franchisee fails to maintain the required insurance coverage, and Healthsource Chiropractic obtains the coverage on their behalf.
For a prospective Healthsource Chiropractic franchisee, this means it is crucial to maintain the required insurance coverage to avoid incurring this 'on demand' fee. Failing to do so could result in unexpected costs, as the franchisee would be responsible for the unpaid premiums and any related expenses Healthsource Chiropractic incurs to secure the necessary coverage.