For a Southern Steer franchise, when does the 'Calendar Year' begin?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
- 30.5.
Calendar Year. "Calendar Year" will mean a period of 12 consecutive months beginning on the first day of January and ending on the 31st day of December.
- 30.6.
Source: Item 22 — ITEM. 22 CONTRACTS (FDD pages 61–168)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the calendar year for a Southern Steer franchise begins on January 1st and ends on December 31st. This definition is important for several aspects of the franchise agreement.
Specifically, the calendar year is relevant to the local marketing requirements for Southern Steer franchisees. Franchisees are required to spend a minimum of 1% of their annual gross revenues on local marketing, sales, and promotion of their Southern Steer Business, beginning the first month after their Required Opening Date and continuing for each calendar year of the Initial Term.
Understanding the calendar year is crucial for franchisees to properly budget and allocate funds for marketing activities to comply with the franchise agreement. Franchisees should ensure they track their gross revenues and marketing expenditures accurately to meet the minimum spending requirement each calendar year.