To whom do I make the payment for the optional additional equipment for a Chem Dry franchise?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
NITIAL INVESTMENT – INITIAL FRANCHISE
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is to Be made |
|---|---|---|---|---|
| Initial License Fee (1) | $23,500 | Part Lump | When you sign | CDI |
| Sum, | the Franchise | |||
| Remainder by | Agreement and | |||
| Monthly Note | the Business | |||
| Installments | Note |
| Type of Expenditure
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 26–31)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, if you choose to purchase optional additional equipment, you will make the payment to CDI, Chem Dry's parent company. The cost for this equipment can range from $0 to $28,525. This payment is due when you sign the Franchise Agreement and the Equipment Agreement and must be paid as a lump sum.
This means that, unlike some other expenses in the initial investment, you will not be paying a third party for the optional additional equipment. Instead, you will be paying Chem Dry directly. This is similar to the payment structure for the initial package, which also goes directly to CDI.
It's important to note that the optional additional equipment is, as the name suggests, optional. Therefore, the amount you pay, if any, will depend on your specific needs and business plan. It is important to discuss with Chem Dry what equipment is best for your specific franchise.