What is the current Conference Fee for Bor Restoration's annual conference?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
ure_0.jpeg)
| TYPE OF FEE (Note 1) | AMOUNT | DUE DATE | REMARKS |
|---|---|---|---|
| Substitute or New Designated Manager Training | Currently, $1,500 per person, plus your travel room and board. | 14 Days Before Course Begins. | Payable to us to train any replacement "Designated Manager" (Item 11). We have the right to increase this fee by any amount without limitation after giving you no less than 60 days' prior written notice. |
| Conference Fee | Currently, $995. | As incurred. | We have an annual conference, and attendance is mandatory. All attendees will pay our then-current Conference Fee. |
Source: Item 6 — Other Fees (FDD pages 10–15)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the current Conference Fee is $995. This fee is incurred when a franchisee attends the annual conference, which is mandatory. This means that as a Bor Restoration franchisee, you must budget $995 for each year you attend the conference.
Bor Restoration retains the right to increase this fee at any time. However, they must provide franchisees with no less than 60 days' prior written notice before implementing any increase. This advance notice allows franchisees to prepare for the change in expenses.
Additionally, if a Bor Restoration franchisee fails to attend the annual meeting, they will be required to pay a Mandatory Non-Attendance Fee of $1,500. This policy incentivizes attendance at the annual conference and ensures that franchisees stay informed about important updates and strategies within the Bor Restoration system.