What does the estimated cost for attending the Bor Restoration initial training cover?
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 Fee | ||||
| Rent and Rental | $0 to $300 | As incurred | Before opening. | Landlord. |
| Improvements | ||||
| (Note 2) | ||||
| Office Furniture, | $0 to $300 | As incurred | Before opening. | Vendors. |
| Fixtures, and | ||||
| Equipment (Note | ||||
| 2) | ||||
| Microsoft Office | $174 | As incurred | Before opening. | Approved Vendor. |
| 365 and Constant | ||||
| Contact (Note 3) | ||||
| Initial Training Expenses (Note 4) | $1,000 to $2,500 | As incurred | Before training. | Airlines, Hotels, Restaurants. |
| Business Vehicle and Wrap (Note 5) | $1,000 to $35,000 | As incurred | Before opening. | Vendor. |
| Business Vehicle | $0 to $1,500 | As incurred | Before opening. | State or Local Government. |
| Tax, Title, and | ||||
| License (Note 5) | ||||
| Business Vehicle | $500 to $1,000 | As incurred | Before opening. | Insurer. |
| Insurance (Note 5) | ||||
| Grand Opening Cost (Note 6) | $500 | As incurred | Before opening. | Advertiser. |
| Insurance and | $4,750 to $5,200 | As incurred | When incurred. | Professionals. |
| Professional | ||||
| Services (Note 7) | ||||
| Additional Funds - 3 months (Note 8) | $9,000 to $15,000 | As incurred | When incurred. | Used for your personal expenses as needed. |
| TOTAL (Note 9) | $194,918 to $239,468 |
Notes
- Fees payable to third parties may or may not be refundable depending on their policies over which we have no control. Except as stated in Item 5, all fees payable to an Affiliate or us are uniform,
payable in one lump sum, and non-refundable. Our Affiliate and we do not finance any portion of your initial investment
- It is anticipated and intended that you will operate this Business from your home.
Source: Item 7 — (FDD pages 15–18)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the estimated initial training expenses range from $1,000 to $2,500. This cost covers travel, food, and lodging for two people to attend the initial training. The FDD specifies that these expenses are incurred before training and are paid to airlines, hotels, and restaurants. The training center is currently located in Littleton, Colorado, so the actual cost may vary depending on the franchisee's location relative to the training center and the type of lodging chosen.
Prospective Bor Restoration franchisees should consider these costs when planning their initial investment. The range provided suggests that franchisees have some control over these expenses by choosing less expensive travel and lodging options. However, it is important to factor in potential increases in these costs due to factors such as rising travel expenses or the need for more luxurious accommodations.
It is also important to note that the estimate covers expenses for two people. If a franchisee wishes to bring additional personnel to the initial training, they should anticipate higher costs. Franchisees should also confirm with Bor Restoration whether the training location is subject to change, as this could significantly impact travel expenses. Careful budgeting and planning are essential to manage these initial training expenses effectively.