On what day of the week does Management Recruiters pay the Franchisee's Contract Staffing Share?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
As long as your Franchise Agreement remains in effect and you are not in default, we will pay you your Franchisee's Contract Staffing Share on the Wednesday following the twenty-ninth (29th) day after the end of each weekly Accounting Period (which ends on Sunday).
If that Wednesday is a banking holiday, then we will pay to you your Franchisee's Contract Staffing Share on the next business banking day.
See Section 5 and Section 6 of the Franchise Agreement for a detailed discussion of the calculation of your Franchisee's Contract Staffing Share.
Source: Item 6 — OTHER FEES (FDD pages 16–23)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, the Franchisee's Contract Staffing Share is typically paid on Wednesdays. Specifically, Management Recruiters will pay the franchisee their Contract Staffing Share on the Wednesday following the twenty-ninth day after the end of each weekly accounting period, which concludes on a Sunday.
However, there is an exception to this rule. If the specified Wednesday falls on a banking holiday, Management Recruiters will instead make the payment on the next business banking day. This ensures franchisees receive their share promptly, even when standard banking operations are closed for a holiday.
To fully understand the calculation of the Franchisee's Contract Staffing Share, the FDD directs prospective franchisees to refer to Section 5 and Section 6 of the Franchise Agreement. These sections likely contain detailed information on how the share is calculated and any other relevant conditions or considerations.