Is a Bombs Away franchisee required to purchase or lease equipment to accept payments as required by Bombs Away Franchising?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
- 7.10 Payment Systems. Franchisee shall accept payment from customers in any form or manner designated by Bombs Away Franchising (which may include, for example, cash, specific credit and/or debit cards, gift cards, electronic fund transfer systems, and mobile payment systems).
Franchisee shall purchase or lease all equipment and enter into all business relationships necessary to accept payments as required by Bombs Away Franchising.
Franchisee must at all times comply with payment card industry data security standards (PCI-DSS).
Source: Item 22 — CONTRACTS (FDD pages 35–36)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, franchisees are required to purchase or lease all equipment and enter into all business relationships necessary to accept payments as required by Bombs Away Franchising. The forms and manners of payment that the franchisee must accept include cash, specific credit and/or debit cards, gift cards, electronic fund transfer systems, and mobile payment systems.
This requirement ensures that Bombs Away franchisees can accommodate various customer payment preferences, aligning with modern consumer expectations. Franchisees must stay compliant with payment card industry data security standards (PCI-DSS) at all times. This compliance is crucial for protecting customer data and maintaining the integrity of the Bombs Away brand.
The franchisee bears the expense of purchasing or leasing the necessary equipment and establishing the required business relationships. This could include point-of-sale systems, credit card processing services, and other related technologies. Prospective franchisees should factor these costs into their initial investment and ongoing operational expenses. It is important to clarify with Bombs Away the specific equipment and systems that are mandated to ensure accurate budgeting and compliance.