In what form of funds must the Burneys Sweets More renewal fee be paid?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
ee. Franchisee has paid to Franchisor a renewal fee of Eight Thousand Five Hundred Dollars ($8,500), which fee shall be due in immediately available funds upon the execution of the Renewal Agreem
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to Burneys Sweets More's 2025 Franchise Disclosure Document, the renewal fee of $8,500 must be paid in immediately available funds. This requirement is triggered upon the execution of the Renewal Agreement.
For a prospective Burneys Sweets More franchisee, this means that when renewing the franchise agreement, the $8,500 renewal fee cannot be paid through methods that require processing time, such as a personal check. Instead, the franchisee must use a method that provides immediate access to the funds, such as a wire transfer, certified check, or other similar means.
The stipulation of "immediately available funds" is a common practice in franchising to ensure prompt payment and avoid delays in the renewal process. Franchisees should plan accordingly to have the funds available in the required format when the renewal agreement is executed to ensure a smooth continuation of their Burneys Sweets More franchise.