To whom is the $15,000 development fee paid for each Cinch I.T. franchised business to be developed?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
| ITEM | AMOUNT | METHOD OF PAYMENT | WHEN DUE | TO WHOM PAYMENT IS TO BE MADE |
|---|---|---|---|---|
| Development Fee for each Franchised Business to be Developed | $15,0001 | Lump sum | At signing of Multi- Unit Development Agreement | Us |
| Total | $15,000 |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 20–22)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the $15,000 development fee for each franchised business to be developed is paid to Cinch I.T. This fee is due at the signing of the Multi-Unit Development Agreement and is paid as a lump sum.
This means that if a prospective franchisee is planning to develop multiple Cinch I.T. locations, they will need to pay Cinch I.T. $15,000 for each location at the time they sign the agreement. This fee contributes to the overall initial investment required to become a Cinch I.T. franchisee.
It is important to note that all payments to Cinch I.T. are non-refundable, so a prospective franchisee should carefully consider their development plans before signing the Multi-Unit Development Agreement and paying the development fees.