When must funds be available in the account for withdrawal by electronic transfer for a Hydrodog franchise?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
We will designate the day of the week (the "Payment Day") the payments are due. Currently, Payment Day is Monday of each calendar week for the previous week. If the Payment Day falls on a national holiday, the payment is due on the first weekday following the national holiday. We require you to pay all payments due us by electronic funds transfer. You agree to comply with the procedures we specify in our Manuals and perform such acts and sign and deliver such documents as may be necessary to accomplish payment by this method. On the Payment Day, you will report to us by telephone, internet, intranet or electronic means or on written form, as we direct, your HydroDog Business' true and correct Gross Sales for the immediately preceding week. You will make the funds available in the Account for withdrawal by electronic transfer no later than the Payment Day.
Source: Item 6 — OTHER FEES (FDD pages 12–16)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, franchisees are required to make funds available in their account for electronic withdrawal no later than the Payment Day. The Payment Day is designated by Hydrodog as Monday of each calendar week for the previous week's gross sales. If the Payment Day falls on a national holiday, the payment is due on the first weekday following the national holiday.
Hydrodog requires franchisees to pay all payments due via electronic funds transfer and to comply with the procedures specified in their manuals. Franchisees must also perform the necessary actions and deliver the required documents to facilitate payment through this method. On the Payment Day, franchisees must report their HydroDog Business's true and correct Gross Sales for the immediately preceding week through telephone, internet, intranet, electronic means, or written form, as directed by Hydrodog.
This means that as a Hydrodog franchisee, you need to ensure that your accounting practices allow you to accurately calculate and report your gross sales each week. You must also maintain sufficient funds in your designated account to cover the royalty and marketing fund fees, which are calculated as a percentage of your gross sales. Failure to have sufficient funds available by the Payment Day could result in late payment fees or other penalties.