What is the deadline for Itan franchisees to submit their Gross Sales report?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
- (c) Gross Sales Reports. No later than each royalty fee due date, you must prepare and send us a statement of your Gross Sales for the prior reporting period. If you miscalculate Gross Sales, you must notify us of the error no later than the end of the next Gross Sales reporting period. Otherwise, you will not be entitled to any refund or credit of any fees paid to us based on previously reported Gross Sales.
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, franchisees must submit their Gross Sales report no later than each royalty fee due date. The FDD also states that if a franchisee miscalculates Gross Sales, they must notify Itan of the error no later than the end of the next Gross Sales reporting period to be entitled to any refund or credit of fees paid.
It is important to note that the royalty fee due date is specified in Section 13.2 of the FDD, which states that the royalty fee is due on the day of each week Itan specifies. The current reporting period runs from Monday through Sunday, and the current royalty fee due date is the Wednesday immediately following the end of the prior reporting period. Itan may periodically change the reporting period and/or royalty fee due date through updates to the Manual.
Therefore, for a prospective Itan franchisee, understanding the exact royalty fee due date is crucial for timely submission of Gross Sales reports. Failure to submit the report by the deadline could result in late fees or other penalties. Additionally, promptly notifying Itan of any miscalculations in Gross Sales is essential to ensure accurate fee payments and potential refunds or credits.