What is the Bor Restoration Application Fee?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
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We will deliver the BOR Application ("Application" - Exhibit H to this FDD) to you when you receive this FDD. No earlier than 14 calendar days after the date that you sign and return the Receipt (the last page of this FDD) (or after any other date that may be defined by state law), you must complete and return the Application and must pay us the Application Fee of $1,000. If we disapprove of your Application, the fee will be fully returned. If we accept your Application, you qualify for a franchise award and must sign the Franchise Agreement within 90 days. If you do not sign the Franchise Agreement within that time, your Application Fee will become non-refundable. If you sign the Franchise Agreement at any time, your Application Fee is credited agains
Source: Item 5 — Initial Fees (FDD pages 9–10)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, prospective franchisees must pay a $1,000 application fee when submitting their application. This fee is submitted with the completed application, no earlier than 14 calendar days after signing and returning the FDD receipt.
The application fee is conditionally refundable. If Bor Restoration disapproves the application, the full $1,000 will be returned to the applicant. However, if the application is approved, the applicant then has 90 days to sign the Franchise Agreement. If the Franchise Agreement is not signed within this 90-day period, the application fee becomes non-refundable.
If the applicant does sign the Franchise Agreement, the $1,000 application fee is credited towards the initial franchise fee of $44,000. This means the franchisee will pay $43,000 for the initial franchise fee at signing. This is a fairly standard practice in franchising, where the application fee is often credited toward the initial franchise fee if the applicant is approved and moves forward with the franchise.