Where can I find more information about financing terms for a Bumper Man franchise?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
ITEM 10 FINANCING*
We do not offer, directly or indirectly, any financing arrangements to any franchisee, except for a portion of the initial franchise fee to qualified franchisee operators as discussed below. We will not guarantee any franchisee's note, lease, or other obligation. We do not have any past or present practice, or any intention, to sell, assign or discount to any third party any note, contract, or other instrument you execute.
New franchise operators who purchase a new Bumper Man franchise and who meet our current credit criteria may pay us half of the initial franchisee fee upon the execution of the Franchise Agreement and pay the remaining half (up to $25,000) in 120 equal semi-monthly installments during a five-year term at an interest rate of 10% per annum, secured by your right, title and interest in the Franchise Agreement. Default of your payment obligations under the note constitutes a default under the Franchise Agreement for which we may terminate the Franchise Agreement if you fail to cure your default of your payment obligat
Source: Item 5 — INITIAL FEES (FDD page 12)
What This Means (2025 FDD)
According to Bumper Man's 2025 Franchise Disclosure Document, Item 10, titled "Financing," provides details regarding the limited financing options available to franchisees. Bumper Man does not offer direct or indirect financing arrangements to franchisees, with the exception of financing a portion of the initial franchise fee for qualified new franchise operators. They also do not guarantee any franchisee's financial obligations.
New Bumper Man franchise operators who meet the franchisor's credit criteria may be eligible to finance half of the initial franchise fee, up to $25,000. This financing is structured as 120 equal semi-monthly installments over a five-year term, with an annual interest rate of 10%. The financing is secured by the franchisee's rights and interests in the Franchise Agreement.
It's important to note that defaulting on these payment obligations constitutes a default under the Franchise Agreement, potentially leading to termination if the default is not cured. Prospective franchisees should carefully review Item 10 and discuss their eligibility for this limited financing option with Bumper Man.