When is the initial franchise fee due for a Bombs Away franchise?
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, ranging 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 have the full $30,000 available at the time of signing the franchise agreement. It is important to note that, as stated in the notes, this expenditure is non-refundable. This is a common practice in franchising, as the initial fee covers Bombs Away's initial costs of granting the franchise, such as training and setting up the franchisee.
Prospective franchisees should carefully consider their financial situation and ensure they have sufficient capital before signing the franchise agreement, as the initial franchise fee is a significant upfront cost that cannot be recovered if they later decide not to proceed with the franchise. Understanding the payment terms and non-refundable nature of the fee is crucial for making an informed decision about investing in a Bombs Away franchise.