When is the Technology Fee for a Better Blend franchise due and payable?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
. BBF has no liability or obligation to Franchisee with respect any third-party software or other technology-related services and products that BBF provides to Franchisee. The Technology Fee for a given period is due and payable at the same time as the Royalty Fee, unless BBF determines otherwise. BBF may add, remove, or alter the software or technology products or services that it provides. BBF may change Technology Fee after at least 30 days' notice. The Technology Fee will not exceed $500 per month (provided that BBF may increase this limit to reflect inflation from January 1, 2022).
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, the Technology Fee for a given period is typically due and payable at the same time as the Royalty Fee, which is weekly. The Royalty Fee is equal to 6% of Adjusted Gross Sales and is due on the first Tuesday of the following week. However, Better Blend retains the right to determine an alternative due date for the Technology Fee.
Better Blend also has the right to change the Technology Fee after providing at least 30 days' notice to the franchisee. The Technology Fee will not exceed $500 per month, although Better Blend can increase this limit to account for inflation from January 1, 2022.
As a prospective franchisee, it's important to note that the Technology Fee is in exchange for software and other technology-related services and products provided by or through Better Blend. Better Blend may add, remove, or alter the software or technology products or services that it provides. Franchisees should clarify with Better Blend what specific technology and services are included in the Technology Fee and how these might change over time.