What is the maximum term, in months, for Bumble Roofing's financing of the franchise fee?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
t the same time
In the event that you purchase multiple contiguous Territories at the same time, and you are in the process of obtaining funding from a financial institution for the purpose of paying the Total Initial Franchise Fees, then we may, in our discretion, permit you to pay the Total Initial Franchise Fees in installments and upon signing of the Franchise Agreements as follows: (a) payment of the full Initial Franchise Fee for Territory 1 plus a minimum of $5,000 for each additional Territory due at the time you sign the Franchise Agreements, and (b) the remainder to be paid for the additional Territories in full upon the earlier of (i) 90 days from the execution of the Franchise Agreements or (ii) the date you receive the funding. The initial payment is non-refundable. If you fail to pay the remaining balance of the Total Initial Franchise Fees, then we have the right to terminate your Franc
Source: Item 10 — FINANCING (FDD page 30)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, when purchasing multiple contiguous territories and obtaining funding from a financial institution, Bumble Roofing may allow payment of the total initial franchise fees in installments. The franchisee must pay the full initial franchise fee for the first territory, plus a minimum of $5,000 for each additional territory upon signing the franchise agreements. The remaining balance for the additional territories must be paid in full within 90 days from the execution of the franchise agreements or by the date the franchisee receives funding, whichever comes first.
This means that Bumble Roofing offers a short-term financing option for a portion of the franchise fee under specific conditions. This option is only available when purchasing multiple contiguous territories and securing external financing. The initial payment is non-refundable, providing Bumble Roofing with some security.
If the franchisee fails to pay the remaining balance of the total initial franchise fees within the 90-day period, Bumble Roofing has the right to terminate the franchise agreements. This condition underscores the importance of securing adequate funding and managing the payment schedule effectively. For a prospective franchisee, this highlights the need to have a solid financial plan and a high degree of confidence in securing the necessary funding within the specified timeframe.