What costs are associated with non-cash payment systems that an Afuri Ramen Dumpling franchisee must pay?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Date Due | Remarks |
|---|---|---|---|
| Franchise Agreement Section 5.1). | |||
| Non-Cash Payment Systems | All costs associated with non-cash payment systems | As incurred | You must accept debit cards, credit cards, stored value gift cards or other non-cash payment systems we specify. |
Source: Item 6 — Other Fees (FDD pages 11–16)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, franchisees are responsible for all costs associated with non-cash payment systems. This means that franchisees must accept debit cards, credit cards, stored value gift cards, or other non-cash payment systems that Afuri Ramen Dumpling specifies.
The costs are incurred as they arise, and the FDD does not specify a particular amount. These costs could include transaction fees charged by credit card processors, the cost of hardware and software for processing payments, and any fees associated with using stored value gift cards.
It is common practice for franchise agreements to require franchisees to bear the costs of payment processing. Prospective Afuri Ramen Dumpling franchisees should factor these ongoing expenses into their financial projections and business plan. They may want to inquire with the franchisor about typical costs experienced by existing franchisees to better estimate these expenses.