When is the Bor Restoration BOR Software fee of $3,999 due?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Type of Expenditure | Amount | Method of | When Due | To Whom Payment is to be |
|---|---|---|---|---|
| (Note 1) | Payment | Made | ||
| IFF | $44,000 | Lump sum | At the signing of Franchise Agreement. | Us |
| Opening Package | $127,000 | Lump-sum | At the signing of the Franchise Agreement. | An Approved Vendor, An Affiliate, or Us. |
| BOR Software | $3,999 | Lump-sum | At the signing of the Franchise Agreement. | Us. |
| Technology | $2,995 | Lump-sum | At the signing of the Franchise Agreement. | Us. |
| Startup F |
Source: Item 7 — (FDD pages 15–18)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the BOR Software fee of $3,999 is due as a lump sum payment at the signing of the Franchise Agreement. This fee is paid directly to Bor Restoration.
This means that a prospective franchisee must be prepared to pay this amount upfront as part of their initial investment. The BOR Software is a required component, and payment is not deferred or financed by Bor Restoration or its affiliates. This up-front payment is typical for many franchise systems to cover initial setup and access to proprietary software.
As noted in the FDD, all fees payable to Bor Restoration or its affiliates are uniform, payable in one lump sum, and non-refundable, except as stated in Item 5. Therefore, it is crucial for potential franchisees to understand the terms and conditions of the Franchise Agreement before signing, as the $3,999 BOR Software fee is non-refundable.