To whom do I pay the Technology Implementation Fee for a Bang Cookies bakery 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) | $75,000 – $150,000 | As arranged | As incurred | Contractors, suppliers, and/or Landlord |
| Lease Deposits – Three Months | $15,000 – $40,000 | As arranged | As incurred | Landlord |
| (Note 3) | ||||
| Furniture, Fixtures and Equipment | $176,370 – $224,020 | As arranged | As incurred | Suppliers |
| (Note 4) | ||||
| Signage (Note 5) | $15,000 – $25,000 | As arranged | As incurred | Us, Suppliers |
| Computer, Software and Point of | $3,000 – $3,000 | As arranged | As incurred | Suppliers |
| Sales System (Note 6) | ||||
| Grand Opening Marketing (Note 7) | $10,000 – $20,000 | As arranged | As incurred | Suppliers |
| Initial Inventory (Note 8) | $5,000 – $10,000 | As arranged | As incurred | Us, Suppliers |
| Utility Deposits (Note 9) | $1,500 – $2,000 | As arranged | As incurred | Suppliers |
| Insurance Deposits – Three | $500 – $1,000 | As arranged | As incurred | Insurers |
| Months (Note 10) | ||||
| Travel for Initial Training | $3,500 – $7,500 | As arranged | As incurred | Airlines, hotels, |
| (Note 11) | restaurants | |||
| Professional Fees (Note 12) | $2,000 – $7,500 | As arranged | As incurred | Attorneys, accountants, architects, advisors |
| Technology Implementation Fee | $1,500 - $3,000 | As arranged | As incurred | Us |
| Licenses and Permits (Note 13) | $2,000 – $4,000 | As arranged | As incurred | Government |
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 Technology Implementation Fee, which ranges from $1,500 to $3,000, is paid to Bang Cookies. This fee is due as incurred and the method of payment is arranged between the franchisee and franchisor.
The Technology Implementation Fee is part of the estimated initial investment for opening a Bang Cookies bakery location. The initial investment covers various expenses, such as the initial franchise fee, construction and leasehold improvements, lease deposits, furniture, fixtures and equipment, signage, computer systems, grand opening marketing, initial inventory, and utility deposits.
Prospective franchisees should note that the total estimated initial investment for a Bang Cookies franchise ranges from $235,070 to $390,840. It is important to carefully review all the components of this investment and understand the payment schedule and to whom payments are made. Consulting with financial and legal advisors is recommended before signing a Franchise Agreement.