To whom is the payment for rent made for a Better Blend franchise?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
FRANCHISE AGREEMENT
| Type of expenditure | Amour | nt | Method of payment | When due | To whom payment is to be made |
|---|---|---|---|---|---|
| Initial franchise fee (see Note 1) | $35,000 - | $35,000 | Check or wire transfer | Upon signing the franchise agreement | Us |
| Rent (one month) (see | $2,000 - | $6,000 | Check | Upon signing lease | Landlord |
| Note 2) | |||||
| Lease Security Deposit (see Note 2) | $2,000 - | $6,000 | Check | Upon signin |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 15–17)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, rent payments are made directly to the landlord. The FDD indicates that the estimated rent for one month ranges from $2,000 to $6,000.
In addition to the monthly rent, Better Blend franchisees should also anticipate paying a lease security deposit, which also goes to the landlord. This deposit also ranges from $2,000 to $6,000. Both the rent and the lease security deposit are typically due upon signing the lease agreement.
Prospective franchisees should factor these expenses into their initial investment and operating capital. It is also noted that franchisees may be able to negotiate a 'free rent' period with the landlord to offset costs during the build-out phase before the business opens.