When is the Initial Franchise Fee due for a Bang Cookies satellite location?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
anchise Agreement – Bakery Location
| Type of Expenditure | Amount | Method of Payment | When Due | |
|---|---|---|---|---|
| Initial Franchise Fee (Note 1) | $55,000 | Lump sum | When Fran |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 17–24)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, the initial franchise fee for a satellite location is due when the Franchise Agreement is signed. The initial franchise fee is $55,000, and it must be paid in a lump sum to Bang Cookies.
This means that a prospective Bang Cookies franchisee must have $55,000 available at the time of signing the agreement to secure the rights to open a satellite location. This fee is non-refundable and compensates Bang Cookies for granting the franchise and providing initial support and training.
It is important to note that this is just one component of the total estimated initial investment, which also includes expenses such as construction and leasehold improvements, lease deposits, furniture, fixtures and equipment, and initial inventory. A prospective franchisee should carefully consider all of these costs and ensure they have sufficient capital before signing the Franchise Agreement.