Is the initial franchise fee for Card My Yard refundable?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 5: INITIAL FEES]
ITEM 5: INITIAL FEES
Initial Franchise Fee
Upon signing the Franchise Agreement, you must pay us an Initial Franchise Fee in the amount of Eight Thousand Five hundred Dollars ($8,500). This amount is payable in one lump sum payment, is considered fully earned and nonrefundable upon receipt, and is imposed uniformly on all franchisees.
Pre-Opening Termination Fees
If you execute a Franchise Agreement with us and encounter an unforeseen health or personal issue prior to beginning operations that prevents you from undertaking the operation of your Card My Yard business, we may, at our option, permit you to terminate your Franchise Agreement by mutual written agreement in a form acceptable to us, which will, among other things, include your payment of a termination fee equal to $1,000, plus any out-ofpocket expenses incurred by us.
If you fail to successfully complete our initial training program to our satisfaction within 60 days after signing your franchise agreement, then we may, at our option, terminate your franchise agreement and retain 50% of your initial franchise fee. The other 50% of your initial franchise fee will be returned to you.
Source: Item 5 — INITIAL FEES (FDD pages 13–15)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the initial franchise fee of $8,500 is generally nonrefundable. Upon signing the Franchise Agreement, this fee is considered fully earned by Card My Yard and is imposed uniformly on all franchisees. This means that once you pay the initial franchise fee, you typically cannot get it back.
However, there are two specific scenarios where a portion of the initial fee may be refundable. First, if unforeseen health or personal issues prevent you from starting your Card My Yard business before operations begin, Card My Yard may allow you to terminate the Franchise Agreement with a mutual written agreement. In this case, you would need to pay a termination fee of $1,000, plus any out-of-pocket expenses incurred by Card My Yard.
Second, if you fail to successfully complete Card My Yard's initial training program to their satisfaction within 60 days after signing the franchise agreement, Card My Yard may terminate the agreement. In this instance, you would receive 50% of your initial franchise fee back, while Card My Yard retains the other 50%. It is important to note that these are exceptions and are subject to Card My Yard's discretion and specific conditions.