What is the weekly late reporting fee 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 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 franchisee will be charged $100 per week for submitting any required report after the due date. This fee is incurred if any report or information required by Healthsource Chiropractic is received after the established deadline. The due date for these reports is the 10th day of the month following the month for which the report is required.
This late reporting fee is a recurring expense that a Healthsource Chiropractic franchisee must be aware of. It is crucial to submit all required reports and information on time to avoid incurring this weekly fee. The fee continues to accrue weekly until the report is submitted.
Franchisors commonly charge fees for late submissions of required reports to ensure timely and accurate information flow. This allows them to monitor the performance of individual franchises and the overall network. Franchisees should establish internal processes to ensure all reports are completed and submitted by the due date to avoid these charges.