What professional services are recommended for Bigfoot Forestry franchisees?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
ite.
- 13. Professional Fees: We recommend, but do not require, that you hire a lawyer, accountant, business advisor or other professional to advise and assist you with matters such as:
- reviewing this Disclosure Document and evaluating the franchise opportunity
- reviewing and negotiating your Franchise Agreement and (if applicable) ADA
- setting up your business entity (if you choose to form a business entity to be the "franchisee")
- obtaining required business licenses and permits
- setting up your books and records and establishing your accounting systems
- preparing a budget and business plan
The low estimate assumes you choose not to hire any professional advisors. The high estimate assumes you hire an attorney and accountant. Legal and accounting fees vary significantly based on numerous factors, such as the location, experience and qualifications of the lawyer or accountant you hire and the scope and complexity of the work performed.
- 14. Insurance: This estimates your insurance premiums for an initial 3-month period. The actual insurance premiums you incur may vary based on a number of factors including: (a) local market conditions; (b) the amount of your deductible; (c) whether you choose to obtain coverage in excess of our minimum requirements; and (d) your claims history.
- 15. Additional Funds: This estimates your expenses during the first 3 months of operation, including payroll costs (excluding any wage or salary paid to you), post-opening rent for storage space (if applicable), software and technology fees, fuel costs, advertising and marketing expenses, and other miscellaneous expenses and required working capital. Labor and employment costs, which vary significantly based on numerous factors, may represent a significant portion of your ongoing operating expenses. For this reason,
we recommend you investigate local labor and employment costs before you purchase the franchise.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 15–18)
What This Means (2025 FDD)
According to Bigfoot Forestry's 2025 Franchise Disclosure Document, it is recommended, but not required, that franchisees hire professional advisors such as a lawyer, accountant, or business advisor. These professionals can assist with several aspects of setting up the franchise.
Specifically, Bigfoot Forestry suggests these advisors can help with reviewing the Disclosure Document and evaluating the franchise opportunity, as well as reviewing and negotiating the Franchise Agreement. They can also assist in setting up the business entity, obtaining necessary business licenses and permits, establishing accounting systems, and preparing a budget and business plan.
The estimated initial investment for professional fees ranges from $1,000 to $5,000. The low end of this estimate assumes that the franchisee chooses not to hire any professional advisors, while the high end assumes the franchisee hires both an attorney and an accountant. The document notes that legal and accounting fees can vary significantly based on factors like location, experience, qualifications, and the complexity of the work performed.
Bigfoot Forestry also strongly recommends that franchisees hire an accountant, business advisor, or other professional to assist in developing a budget for the development, opening, and operation of their business. Furthermore, within 60 days after opening, franchisees must submit a report detailing the expenses incurred to develop and open the business, which Bigfoot Forestry may use to update future FDDs.