When does Management Recruiters pay the Franchisee's Recruiter Share?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
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- Pay you your share of moneys collected from customers, described in the Franchise Agreement as "Franchisee's Recruiter Share" calculated as Net Cash In less Continuing Fees, other adjustments, and other amounts owing to us, on the Wednesday following the week in which the account was collected. If that Wednesday is a banking holiday, then we will pay to you your Franchisee's Recruiter Share on the next business-banking day. You will find these terms defined in the definitions section (Section 1) of the Franchise Agreement and discussed in Section 5.2 and Section 6.1;
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 34–40)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, the Franchisee's Recruiter Share, calculated as Net Cash In less Continuing Fees, other adjustments, and other amounts owed to Management Recruiters, is paid out on a specific schedule. This payment occurs on the Wednesday following the week in which the account was collected.
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 that franchisees receive their share promptly while accounting for bank closures.
Prospective franchisees should note that the terms "Franchisee's Recruiter Share," "Net Cash In," "Continuing Fees," and "weekly Accounting Period" are defined in Section 1 of the Franchise Agreement and discussed in Sections 5.2 and 6.1. Understanding these definitions is crucial for comprehending how the Franchisee's Recruiter Share is calculated and when it is paid.