When is the Opening Package Cost due for a Bor Restoration franchise?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
the IFF.
You are required to purchase from our approved vendor, an Affiliate, or us your initial package of equipment, tools, and supplies needed to open your Business (Opening Package) that includes air movers, air scrubbers, dehumidifier(s), one or more liquid extractors, mold-remediation equipment, smoke removal equipment including ozone generators, thermal imaging equipment, hand tools, a Microsoft or equivalent computer tablet (Tablet) loaded with the "BOR Software Suite," and other equipment needed to operate the Business for $127,000 (Opening Package Cost). You must pay the Opening Package Cost when you pay
Source: Item 5 — Initial Fees (FDD pages 9–10)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the Opening Package Cost, which is $127,000, is due when the franchisee pays the initial franchise fee (IFF). The opening package includes essential equipment, tools, and supplies like air movers, air scrubbers, dehumidifiers, liquid extractors, mold-remediation equipment, smoke removal equipment, thermal imaging equipment, hand tools, and a computer tablet loaded with the BOR Software Suite.
This means that a prospective Bor Restoration franchisee must be prepared to pay the $127,000 for the Opening Package at the same time as the $44,000 initial franchise fee. This represents a significant upfront investment in addition to other initial costs such as the BOR Software Suite Initial License Fee of $3,999 and a Technology Startup Fee of $2,995.
It is important for potential franchisees to understand that the Opening Package must be purchased from Bor Restoration's approved vendor, an affiliate, or directly from Bor Restoration. Additionally, franchisees are required to maintain and replace the equipment as needed, purchasing replacement inventory from approved suppliers, affiliates, or Bor Restoration. Bor Restoration may also require franchisees to replace the original tools and equipment (excluding the Tablet) no more than once every five years and update the Tablet no more than once every three years, potentially incurring additional costs.
Prospective franchisees should carefully consider these requirements and costs when evaluating the Bor Restoration franchise opportunity, as these expenses are essential for starting and maintaining the business.