Where in the Budget FDD can I find the Renewal Fee?

According to Budget's 2025 Franchise Disclosure Document, the Renewal Fee can be found in Item 23, specifically in the table outlining various fees. The Renewal Fee is also referenced in Paragraph 11.1 regarding the term and termination of the agreement.

The table in Item 23 lists the Renewal Fee as $2,500, payable upon renewal, and references Paragraph 11.1 of the agreement. Paragraph 11.1 states that the Budget agreement may be renewed for successive five-year terms. To renew, the franchisee must meet certain conditions at least 30 days before the expiration date, including not being in default, having the same beneficial owners, signing the then-current form of the license agreement, upgrading the rental business to current system standards, and signing a general release of claims against Budget.

This means that a Budget franchisee will need to pay a fee of $2,500 to renew their franchise agreement for another five-year term, provided they meet all the stipulated conditions. It is important for prospective franchisees to understand these renewal conditions and factor the renewal fee into their long-term financial planning. Franchisees should also review Paragraph 11.1 in its entirety to fully understand the renewal process and requirements.