What is the maximum fee a Cicis franchisee might pay for Cicis' review of proposed offering materials?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
1934, as amended, or any comparable federal, state, or foreign law, rule, or regulation and may be offered by private offering or otherwise only with our prior written consent, which we may withhold or qualify in our sole discretion. No such offering will imply (by use of the Marks or otherwise) that we are participating in an underwriting, issuance, or offering of securities, and our review of any offering m
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis' 2025 Franchise Disclosure Document, a franchisee will pay a nonrefundable fee of $3,000 for Cicis' review of proposed offering materials. However, the franchisee may be required to pay a greater amount than $3,000 if Cicis' reasonable costs and expenses associated with reviewing the proposed offering materials, including legal and accounting fees, exceed that amount.
This means that while there is a base fee of $3,000, the actual cost to the franchisee could be higher depending on the complexity and extent of the review required by Cicis. The franchisee is responsible for covering all of Cicis' costs, including legal and accounting fees, associated with the review.
It is important for a prospective Cicis franchisee to understand that the $3,000 fee is nonrefundable, regardless of whether the offering is ultimately approved. Additionally, the franchisee should budget for the possibility of incurring review costs exceeding $3,000, especially if the offering is complex or requires extensive legal and accounting review by Cicis. The franchisee must also provide written notice to Cicis at least 30 days before commencing any offering.