Are All County franchisees required to establish a designated bank account?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
- 2.5. Designated Bank Account. Prior to the opening of the Business, and as a condition thereof, you shall establish a designated bank account from which we shall be authorized to withdraw in any manner which we prescribe, which may include EFT or wire transfer, any amounts due to us or any affiliate(s) from you under this Agreement, including Royalty Fees due.
All costs and expenses of establishing and maintaining such designated account, including transaction fees and wire transfer fees, shall be paid by you.
You agree to maintain at all times sufficient funds in such designated bank accounts for such withdrawals.
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, franchisees are required to establish a designated bank account prior to opening their business. This account is a condition of opening the business. All County is authorized to withdraw funds from this account, using methods they prescribe, including EFT or wire transfer, to cover amounts due from the franchisee. These amounts include Royalty Fees or any other fees owed to All County or its affiliates under the Franchise Agreement.
The franchisee is responsible for all costs associated with establishing and maintaining the designated bank account, including transaction and wire transfer fees. Furthermore, franchisees must ensure that sufficient funds are always available in the account to cover the withdrawals made by All County.
This requirement ensures that All County can efficiently collect royalties and other fees owed by the franchisee. It also places the responsibility on the franchisee to manage their finances in such a way that funds are always available for these withdrawals. Prospective franchisees should factor in these costs and the need to maintain sufficient balances when planning their business finances.