What methods of payment are accepted for the Chocolate Bash franchise fee?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
ISE AGREEMENT
| Type of expenditure | Amount | Method of payment | When due | To whom payment is to be made | |
|---|---|---|---|---|---|
| Franchise fee (see Note 1) | $45,000 - | $45,000 | Check or wire transfer | Upon signing the franchise agreement | Us |
| Rent and Lease Security | $2,500 - | $16,000 | Check | Upon signing lease | Landlord |
| Deposit (see Note 2) | |||||
| Utilities | $100 - | $500 | Check, debit, and/or credit | Upon ordering service | Utility providers |
| Leasehold | $50,000 - | $100,000 | Check | As incurred or when billed | Contractors |
| Improvements | |||||
| Market Introduction | $10,000 - | $10,000 | Check, debit, and/or credit | As incurred or when billed | Vendors and suppliers |
| Program | |||||
| Furniture, Fixtures, and Equipment | $40,000 - | $100,000 | Check, debit, and/or credit | As incurred | Vendors and suppliers |
| Computer Systems | $1,000 - | $2,000 | Check, debit, and/or credit | As incurred | Vendors and suppliers |
| Insurance | $300 - | $4,000 | Check | Upon ordering | Insurance company |
| Signage | $3,000 - | $8,000 | Check, debit, and/or credit | Upon ordering | Vendor |
| Office Expenses | $1,000 - | $2,000 | Check, debit, and/or credit | As incurred | Vendors |
| Inventory | $8,000 - | $12,000 | Check, debit, and/or credit | Upon ordering | Us, Vendors |
| Licenses and Permits | $2,000 - | $5,000 | Check | Upon application | Government |
| Professional Fees | $1,500 - | $3,000 | Check, debit, and/or credit | As incurred or when billed | Professional service firms |
| (lawyer, accountant, | |||||
| etc.) |
| Type of
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 13–15)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the franchise fee, which ranges from $45,000 to $45,000, can be paid via check or wire transfer. This payment is due upon signing the franchise agreement. For franchisees entering into a Multi-Unit Development Agreement (MUDA), additional initial franchise fees ranging from $70,000 to $140,000 are also payable by check or wire transfer upon signing the MUDA.
It is important to note that the method of payment can vary for other expenses associated with starting a Chocolate Bash franchise. For instance, travel, lodging, and meals for initial training can be paid via cash, debit, or credit card. Similarly, utilities can be paid via check, debit, and/or credit card. Leasehold improvements, market introduction programs, furniture, fixtures, equipment, computer systems, signage, office expenses, inventory, and professional fees can be paid via check, debit, and/or credit card.
Prospective franchisees should be aware of the accepted payment methods for each type of expenditure to ensure they can meet the financial obligations when they are due. Using the appropriate payment method can help streamline the initial setup process and maintain good standing with Chocolate Bash and its various vendors and suppliers. Franchisees should also confirm these payment methods with Chocolate Bash during their due diligence, as policies can change.