What is the method of payment for lease expenses for 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 |
| Lease Expenses (three | $0 | $500 | As stated in | As incurred | Landlord |
| months)2 | lease |
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, lease expenses are paid 'as stated in lease.' The estimated initial investment for lease expenses for the first three months ranges from $0 to $500, and payments are made to the landlord as incurred.
Most Card My Yard franchisees operate from a home office, which would account for the low-end estimate of $0 for lease expenses. However, the FDD notes that the high-end estimate is based on leasing a small warehouse space. The actual cost will depend on the franchisee's ability to negotiate lease terms and local commercial leasing rates.
It is important to note that if a Card My Yard franchisee chooses to lease a space, they may also be required to pay security deposits to third parties such as telephone service providers and utility companies. These deposits are separate from the lease expenses and will vary based on the location and services selected.