On what day of the week does Management Recruiters pay the Franchisee's Recruiter 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 Recruiter Share on the Wednesday following the weekly Accounting Period (which ends on a Sunday) during which the Franchisor actually collects the cash. If that Wednesday is a banking holiday, then we will pay to you your Franchisee's Recruiter Share on the next business banking day.
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 Recruiter Share is paid out on Wednesdays. Specifically, Management Recruiters will pay the franchisee their Recruiter Share on the Wednesday following the weekly Accounting Period, which concludes on a Sunday.
This payment schedule is contingent upon the franchisee remaining in compliance with the Franchise Agreement and not being in default. Should the scheduled Wednesday payment date fall on a banking holiday, Management Recruiters will remit the Franchisee's Recruiter Share on the subsequent business banking day.
Prospective franchisees should note the importance of adhering to the terms of the Franchise Agreement to ensure timely receipt of their Franchisee's Recruiter Share. Additionally, it is crucial to factor in potential delays due to banking holidays when forecasting cash flow.