What is the maximum equity that Kevin Harrington can earn in All States M.E.D.?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
eadquartered applies (subject to applicable state law). |
ITEM 18. PUBLIC FIGURES
We have engaged the public figure, Kevin Harrington, previously of the Shark Tank television show, to help promote our franchise. Kevin Harrington receives $12,500 per month for the first three (3) months then $10,000 per month thereafter; 10% commission on any franchise sale; 1% equity for every 4 franchises sold, up to a maximum of 7% equity. Kevin Harrington performs marketing assistance. He does not participate in the management or ope
Source: Item 18 — PUBLIC FIGURES (FDD page 39)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, Kevin Harrington, known from the Shark Tank television show, has been engaged to promote the franchise. In return for his marketing assistance, Harrington receives a compensation package that includes both cash payments and potential equity in the company.
Specifically, Harrington is paid $12,500 per month for the first three months of his engagement, and then $10,000 per month thereafter. In addition to these monthly fees, he earns a 10% commission on each franchise sale that results from his promotional efforts.
The most significant aspect of Harrington's compensation is the potential equity stake he can accumulate. For every four All States M.E.D. franchises sold with his involvement, he earns 1% equity in the company. However, this equity accumulation is capped, with a maximum of 7% equity that Harrington can ultimately hold in All States M.E.D.