When are utility payments due for a Care Plus Medical Ucc franchise?
Care_Plus_Medical_Ucc Franchise · 2024 FDDAnswer from 2024 FDD Document
CHISE AGREEMENT
| Type of expenditure | Amount | ; | Method of payment | When due | To whom payment is to be made |
|---|---|---|---|---|---|
| Initial franchise fee (see Note 1) | $60,000 - | $60,000 | Check or wire transfer | Upon signing the franchise agreement | Us |
| Rent and Lease Security | $2,083 - | $20,000 | Check | Upon signing lease | Landlord |
| Deposit (see Note 2) | |||||
| Utilities | $100 - | $1,000 | Check, debit, and/or credit | Upon ordering service | Utility providers |
| Leasehold | $15,000 - | $45,000 | Check | As inc |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 16–18)
What This Means (2024 FDD)
According to Care Plus Medical Ucc's 2024 Franchise Disclosure Document, utility payments are due upon ordering service. The estimated initial investment for utilities ranges from $100 to $1,000. Payments can be made via check, debit, or credit card, and are payable directly to the utility providers.
This means that as a Care Plus Medical Ucc franchisee, you will need to arrange and pay for utility services when you initially set up your franchise location. It's important to factor these costs into your startup budget. The FDD also notes that utility deposits will usually be refundable unless you owe money to the utility provider.
Furthermore, the FDD includes an estimate for 'additional funds' needed for the first three months of operation, ranging from $75,000 to $125,000. These funds are intended to cover various expenses, including payments to utilities, employees, and suppliers. The timing of these payments will vary.