What is the role of Kevin Harrington in relation to the All States M.E.D. franchise?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
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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 the 2024 All States M.E.D. Franchise Disclosure Document, Kevin Harrington, known from the Shark Tank television show, has been engaged by All States M.E.D. to promote their franchise. He is not involved in the management or operation of the franchisor and has not made any investment in the franchisor.
All States M.E.D. compensates Kevin Harrington for his promotional services. Initially, he receives $12,500 per month for the first three months. After this initial period, his monthly compensation decreases to $10,000. In addition to the monthly fee, Harrington earns a 10% commission on each franchise sale that results from his promotional efforts.
Furthermore, Kevin Harrington's compensation includes an equity stake in All States M.E.D., which is structured as 1% equity for every four franchises sold that are attributable to his marketing assistance. This equity can accumulate up to a maximum of 7%. This equity stake incentivizes Harrington to actively and successfully promote the All States M.E.D. franchise, aligning his interests with the franchisor's growth and success.