To whom is the initial franchise fee paid when starting a Card My Yard franchise?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
| TYPE OF | AMOUNT | AMOUNT | METHOD | WHEN DUE | TO WHOM |
|---|---|---|---|---|---|
| EXPENDITURE | (LOW) | (HIGH) | OF PAYMENT | PAYMENT IS TO BE MADE | |
| Initial Franchise Fee1 | $8,500 | $8,500 | Lump sum | When you sign Franchise Agreement | Us |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 23–27)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the initial franchise fee, which ranges from $8,500 to $8,500, is paid to 'Us,' meaning the franchisor, Card My Yard, upon signing the Franchise Agreement. This fee covers the costs Card My Yard incurs to onboard a new franchisee.
In addition to the initial franchise fee, prospective franchisees should be aware of other initial investment costs. These include lease expenses (if applicable), furniture and fixtures, POS/computer hardware and software, initial training costs, utility/security deposits, and grand opening marketing expenses. These additional costs are paid to third-party suppliers, landlords, advertisers, and for travel, lodging, and meals related to training.
Understanding where your money goes during the initial investment phase is crucial. The FDD provides a breakdown of these expenses, specifying when payments are due and to whom they should be made. This transparency helps potential franchisees budget and plan their finances accordingly. It is important to note that Card My Yard does not offer financing for the initial franchise fee or any portion of the initial investment, and unless otherwise stated, these amounts are non-refundable.