Is the Technology Startup Fee refundable for a Bor Restoration franchise?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
- ii. purchase the BOR Software Suite by paying the BOR Software Suite Initial License Fee; and,
- iii. pay the Technology Startup Fee.
- c. There are no refunds for any of these fees.
You will pay us $2,995 as your "Technology Startup Fee," which will be used to set up your landing page on our website.
Unless stated above, all fees are payable in one lump sum, are uniform, and are non-refundable.
Source: Item 5 — Initial Fees (FDD pages 9–10)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the Technology Startup Fee is generally non-refundable. Specifically, franchisees must pay a $2,995 Technology Startup Fee to have their landing page set up on the Bor Restoration website. Item 5 states that unless explicitly mentioned, all fees are payable in a lump sum, are uniform, and are non-refundable. Item 23 also indicates that there are no refunds for the Technology Startup Fee.
This means that once a Bor Restoration franchisee pays the $2,995 Technology Startup Fee, they should not expect to receive a refund under normal circumstances. This is a standard practice in franchising, where initial fees are typically non-refundable to cover the franchisor's costs in setting up the franchisee.
However, it is important to note that Item 5 does state that the Application Fee of $1,000 is fully refundable if Bor Restoration disapproves the application. If Bor Restoration accepts the application, the fee is credited against the initial franchise fee. This is the only fee that is explicitly refundable, suggesting that all other fees, including the Technology Startup Fee, are non-refundable.