How must the Chem Dry monthly franchise fee be paid?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
License Fee.
ITEM 6 OTHER FEES
| Name of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Monthly Franchise Fee | The then current fee, which is presently $466.011 | 10th day of month | Generally, begins four months after you complete New Buyer Training, or if you are an existing Franchisee, the 4th month following the signing of the Franchise Agreement. If you are a transferring Franchisee, the month following the signing of the Franchise Agreement. Subject to CPI increase each year on April 1 and not more than once per calendar year. This fee must be paid via electronic funds transfer |
Source: Item 6 — OTHER FEES (FDD pages 19–26)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the monthly franchise fee must be paid via electronic funds transfer. The then-current monthly franchise fee is $466.01. This fee generally begins four months after completing New Buyer Training, or in the case of an existing franchisee, the 4th month following the signing of the Franchise Agreement. For a transferring franchisee, the fee starts the month after signing the Franchise Agreement.
This fee is subject to a CPI (Consumer Price Index) increase each year on April 1, but not more than once per calendar year. The CPI increase for 2024 is 3%. The due date for the monthly franchise fee is the 10th day of each month.
In addition to the standard monthly franchise fee, Chem Dry franchisees may also be required to pay other monthly fees via electronic funds transfer, such as the Franchise Advanced Website fee, which ranges from $25 to $100 monthly per site, depending on selected upgrades. This fee covers the development, hosting, and maintenance of franchisee websites and is applicable after the first year, which is included in the Initial Package.