What is the current Transfer Fee for an Advanced Mobile Iv And Amiv franchise?
Advanced_Mobile_Iv_And_Amiv Franchise · 2023 FDDAnswer from 2023 FDD Document
food and lodging costs to attend. This is |
| Name of Fee | Amount | Date Due | Remarks |
|---|---|---|---|
| not a fee collected by | |||
| us; these amounts are | |||
| paid to third parties | |||
| vendors. Travel and | |||
| lodging costs, including | |||
| plane fares, may vary | |||
| greatly based on your | |||
| franchise location and | |||
| the distance to the | |||
| location of the annual | |||
| convention. | |||
| Step-In Rights Fee | 15% of Gross Sales | Upon demand | Payable only if we |
| plus reasonable | exercise our Step-In | ||
| administrative, | Rights (see Section 6.7 | ||
| personnel, and travel | of the Franchise | ||
| costs | Agreement). | ||
| Transfer Fee | Then-current fee, currently $5,.000 plus applicable taxes. | Before or upon transfer | This fee will be determined based on the Transfer Fee |
Source: Item 6 — OTHER FEES (FDD pages 13–19)
What This Means (2023 FDD)
According to Advanced Mobile Iv And Amiv's 2023 Franchise Disclosure Document, the current transfer fee is $5,000 plus applicable taxes. This fee is due before or upon the transfer of the franchise. The FDD specifies that the transfer fee will be determined based on the most recent disclosure document at the time of the transfer.
For a prospective franchisee, this means that if they decide to sell their Advanced Mobile Iv And Amiv franchise to a third party, they will need to pay Advanced Mobile Iv And Amiv a transfer fee. The fee covers Advanced Mobile Iv And Amiv's administrative costs associated with the transfer, such as reviewing the new franchisee's qualifications and updating the franchise agreement.
It is important to note that the transfer fee is subject to change, as it is based on the then-current fee outlined in Advanced Mobile Iv And Amiv's most recent disclosure document at the time of the transfer. Therefore, the actual transfer fee may be higher or lower than the currently stated $5,000. Franchisees should review the current FDD at the time of any potential transfer to confirm the exact fee amount. Also, the franchisee is responsible for any applicable taxes on the transfer fee.