Must the bona fide offer for a Burros Fries franchise be in a dollar amount?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
s. These start-up costs include the Initial Franchise Fee.
9. FRANCHISEE'S INITIAL FRANCHISE FEE
A. Initial Franchise Fee and Payment
By executing this Franchise Agreement, the applicant agrees to become a Franchisee and pay an Initial Franchise Fee in the amount of Thirty-Five Thousand dollars ($35,000) for a Burros & Fries Business. This Initial Franchise Fee includes a license to operate a single Burros & Fries Business in a Territory that is up to three (3) miles driven in any direction from the Business determined by boundaries as described in Section 6 of this Agreement. The Initial Franchise Fee includes a regional web page housed within our national website, the complete training program at our corporate headquarters and manuals. We choose to allocate some of that time to pre-opening or grand opening assistance.
The Initial Franchise Fee per this Agreement is due upon execution of this Franchise Agreement. The Initial Franchise Fee is uniform as to all persons currently acquiring a franchise as of the effective date of this Agreement, although this may change. The Initial Franchise Fee shall be paid in a lump sum in U.S. funds and shall be deemed fully earned and no
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, a prospective franchisee must pay an initial franchise fee. By executing the Franchise Agreement, the applicant agrees to become a franchisee and pay an initial franchise fee in the amount of $35,000 for a Burros & Fries Business.
This initial franchise fee grants the franchisee a license to operate a single Burros & Fries Business within a territory that extends up to three miles in any direction from the business location, as defined in Section 6 of the agreement. The initial franchise fee also covers a regional web page hosted on Burros Fries' national website, a complete training program at the corporate headquarters, and access to manuals.
The initial franchise fee is due upon execution of the Franchise Agreement. This fee is uniform for all individuals acquiring a franchise as of the agreement's effective date, although Burros Fries retains the right to change this fee in the future. The initial franchise fee must be paid as a lump sum in U.S. funds. Once paid, the fee is considered fully earned and nonrefundable, acknowledging the administrative and other expenses incurred by Burros Fries in granting the franchise and for their lost or deferred opportunity to franchise others.