When is the initial franchise fee due to Bombs Away?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
NITIAL INVESTMENT
| Type of expenditure | An | ount | Method of payment | When due | To whom payment is to be made | |
|---|---|---|---|---|---|---|
| Initial franchise fee (see Note 1) | $30,000 | - | $30,000 | Check or wire transfer | Upon signing the franchis |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 13–15)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the initial franchise fee, which ranges from $30,000 to $30,000, is due upon signing the franchise agreement. This fee is payable to Bombs Away via check or wire transfer.
This means that a prospective Bombs Away franchisee must be prepared to pay the full $30,000 franchise fee at the time they sign the agreement to become a franchisee. This is a standard practice in franchising, as the initial fee compensates the franchisor for granting the franchise rights and providing initial training and support.
It is important to note that, according to Note 1, this initial franchise fee is non-refundable. Therefore, a potential franchisee should carefully consider all aspects of the franchise agreement and conduct thorough due diligence before signing and paying the fee.