What is the latest time on Monday that a Kidokinetics franchisee must furnish the Gross Sales Report?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
has had Gross Sales during the period. The Gross Sales Report will be in such form and will contain such information as Franchisor may from time to time prescribe. At Franchisor's discretion, Franchisee will submit the Gross Sales Report by an electronic transfer of data using the management software we require (currently Kidolink), or any other such software that Franchisor may require Franchisee use in the operation of the Kidokinetics Business.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, the franchisee must submit the Gross Sales Report, which includes sales information from the preceding week, to Kidokinetics. The FDD does not specify a particular time of day on Monday by which the Gross Sales Report must be submitted.
Kidokinetics requires franchisees to use specific accounting procedures and may also require the use of designated bookkeeping services. Franchisees must also purchase computer systems that meet Kidokinetics' standards. The Gross Sales Report can be submitted via electronic data transfer using Kidolink or other software that Kidokinetics requires.
Since the FDD does not state a specific time on Monday, a prospective franchisee should clarify with Kidokinetics the exact deadline for submitting the Gross Sales Report to avoid any potential issues or penalties. It would be prudent to confirm whether there is a latest time on Monday to submit the report.