From: Anonymous
Sent: July 15, 2016
To: rule-comments@sec.gov
Subject: S7-06-16 comments

I was reading an item 19 document and noted that the Royalty fees are not included as an expense. Note that often, an uneducated prospective franchisee may overlook this expense. The Royalty fee is a mandatory payment to the franchise and is calculated on the gross sales.