What is the fee for the Baya Bar successor agreement per term?

According to Baya Bar's 2024 Franchise Disclosure Document, franchisees have the option to enter into a new franchise agreement at the end of their initial term. This new agreement, known as the Successor Franchise Agreement, allows for two additional terms, each lasting five years.

For each of these renewal terms, Baya Bar charges a Successor Agreement Fee. The fee is $3,500.00 per term. This means that if a franchisee chooses to renew for both available terms, they would pay this fee twice, once at the beginning of each five-year extension.

It is important to note that the ability to enter into a Successor Franchise Agreement is subject to certain conditions. The franchisee must meet specific requirements outlined in the current franchise agreement to qualify for renewal. These requirements likely include being in good standing with Baya Bar, meeting performance standards, and completing any required additional training.

Prospective franchisees should carefully consider this fee and the associated requirements when evaluating the long-term costs and benefits of investing in a Baya Bar franchise. Understanding the conditions for renewal and the costs involved is crucial for making an informed decision about the franchise opportunity.