When is the late reporting 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. | Payable if any report or other information required to be submitted to us is received by us after the established deadline. |
Source: Item 6 — Other Fees (FDD pages 17–23)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, a late reporting fee of $100 per week is due on the 10th day of the month following any month for which a required report is not submitted on time. This fee is charged if any report or information required to be submitted to Healthsource Chiropractic is received after the established deadline.
For a prospective Healthsource Chiropractic franchisee, this means that consistently submitting reports and information by the due date is crucial to avoid incurring this weekly fee. The fee can add up quickly if reports are chronically late, impacting the franchisee's profitability.
Franchisees should ensure they understand all reporting requirements and deadlines outlined in the Franchise Agreement and Operations Manual. Setting up internal systems to track and manage report submissions can help avoid late fees and maintain a positive relationship with Healthsource Chiropractic.