What is the maximum amount that Bang Cookies can charge for the monthly Technology Fee?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
ty and Activity Report"). Franchisor shall have the right to verify such royalty payments from time to time, as it deems necessary in any reasonable manner.
5.C. OTHER FEES
As designated by Franchisor in this Agreement, the operations manual, or otherwise, Franchisee shall pay to Franchisor and/or as otherwise directed by Franchisor, each of the following additional fees:
- (1) Technology Fee Throughout the Term of this Agreement, Franchisee shall pay to Franchisor a continuing monthly non-refundable technology fee (the "Technology Fee"). Franchisor, in Franchisor's Reasonable Business Judgmen
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, franchisees must pay a monthly, non-refundable technology fee. Bang Cookies retains the right to implement and charge this fee at any time during the term of the agreement. However, the FDD stipulates that this monthly technology fee cannot exceed $500.
The Technology Fee is described as a general administrative fee and is not tied to any specific service provided by Bang Cookies. This means that franchisees will be charged this fee regardless of their usage of any particular technology service offered by the company.
The Technology Fee is due each month on the date specified by Bang Cookies. This represents a recurring monthly expense that franchisees must factor into their operating costs. Prospective franchisees should consider this ongoing cost when evaluating the financial feasibility of investing in a Bang Cookies franchise.