To whom is the Bor Restoration opening package fee paid?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
ure_0.jpeg)
| 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 Affilia |
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 is paid to an approved vendor, an affiliate, or Bor Restoration itself. This fee, which amounts to $127,000, is due in a lump sum at the signing of the Franchise Agreement.
This substantial upfront payment covers the costs associated with the initial setup and resources necessary to begin operating a Bor Restoration franchise. It is important for prospective franchisees to understand that the payment could be directed to one of three different entities: an approved vendor, an affiliate of Bor Restoration, or directly to Bor Restoration.
Before signing the Franchise Agreement, a potential franchisee should clarify with Bor Restoration to whom the opening package fee will be paid. Understanding the recipient of this payment can provide insights into the specific resources or services covered by the fee and the relationship between Bor Restoration and its vendors or affiliates. This knowledge can help a franchisee better assess the value received for this significant initial investment.