To whom do I pay for architect and engineering fees for a Bang Cookies satellite location?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Expenditure | Amount | Method of Payment | When Due | |
|---|---|---|---|---|
| Initial Franchise Fee (Note 1) | $55,000 | Lump sum | When Franchise Agreement is signed | Us |
| Construction and Leasehold Improvements (Note 2) | $30,000 - $70,000 | As arranged | As incurred | Contractors, suppliers, and/or landlord |
| Architect & Engineering | $7,500 - $15,000 | As arranged | As incurred | Architect & Engineer |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 17–24)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, if you open a satellite location, you will pay the architect and engineer directly. The fees, which range from $7,500 to $15,000, are paid as arranged and as incurred.
These fees are part of the initial investment required to start a Bang Cookies franchise. The FDD outlines various expenses, and it's important to note that these estimates can vary based on factors like the size of your shop and local market conditions. Therefore, it's crucial to carefully review these estimates with your advisors.
Understanding the payment schedule and to whom payments are made is essential for managing your initial investment effectively. This information helps you plan your finances and ensure timely payments to the appropriate parties during the setup phase of your Bang Cookies franchise.