Under what condition is the late reporting fee charged to a Healthsource Chiropractic franchisee?
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 sub |
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 is charged if any required report or other information is submitted after the established deadline. The fee is $100 per week and is due on the 10th day of the month following any month for which a required report is not submitted on time.
This means that Healthsource Chiropractic franchisees must ensure that all reports and information are submitted by the due date to avoid incurring this weekly fee. The fee can accumulate quickly, so it is important to prioritize timely submission of all required documents.
Franchisees should establish internal processes to ensure compliance with reporting deadlines. This may include setting reminders, assigning responsibility for report preparation and submission, and implementing quality control checks to verify accuracy and completeness. Failure to comply with the reporting requirements can result in a significant financial burden over time.