What is the Technology Startup Fee for a Bor Restoration franchise, and what is it used for?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
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You will pay us $2,995 as your "Technology Startup Fee," which will be used to set up your landing page on ou
Source: Item 5 — Initial Fees (FDD pages 9–10)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, franchisees must pay a Technology Startup Fee of $2,995. This fee is earmarked for setting up the franchisee's landing page on the Bor Restoration website.
This fee is payable in a lump sum and is generally non-refundable, as are most fees paid to the franchisor or its affiliates, unless explicitly stated otherwise in Item 5 of the FDD. The Technology Startup Fee is due at the signing of the Franchise Agreement.
In essence, this fee covers the initial setup cost to establish an online presence for the new Bor Restoration franchise, ensuring that customers can find and engage with the local franchise through the company's website. This is a standard practice in franchising, where franchisors often provide initial marketing and technology support to help new franchisees launch their businesses effectively.