To whom is the Bor Restoration opening package fee of $127,000 paid?
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 Agreem |
Source: Item 7 — (FDD pages 15–18)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the opening package fee of $127,000 is paid to either an approved vendor, an affiliate, or directly to Bor Restoration. This payment is a lump sum due at the signing of the Franchise Agreement.
This means that a prospective Bor Restoration franchisee must be prepared to pay this significant fee upfront as part of their initial investment. The funds are not financed by Bor Restoration or its affiliates, as noted in Item 7. It is important to clarify with Bor Restoration to whom specifically this fee will be paid, as it could be a third-party vendor or Bor Restoration itself.
Understanding where this money goes is crucial for budgeting and financial planning. Franchisees should also confirm whether the opening package includes specific goods, services, or support, and what recourse they have if these are not delivered as expected. It is advisable to discuss this with a business advisor, as suggested in the FDD, before making any commitments.