What is the amount of the Initial Training Fee for a Cinch I.T. franchise?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
ounts collected shall be deemed fully earned immediately upon receipt and shall be non-refundable, regardless of whether You open any of the CINCH I.T. Franchised Businesses You are obligated to open in the Development Area. We will credit each Development Fee paid as full payment of the initial franchise fee due for each subsequent franchise to be opened under this Agreement.
- 4.3 You shall pay to Us an initial training fee ("Initial Training Fee") of Thirty Thousand Dollars ($30,000.00) when You sign Your first CINCH I.T. Franchise Agreement. The then-current Initial Training Fee for the second CINCH I.T. Fran
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the initial training fee is $30,000. This fee covers training for the franchisee and one additional person to attend the initial training program. The initial training fee is due in full upon the execution of the franchise agreement.
For franchisees who develop multiple Cinch I.T. franchises, the initial training fee is reduced for the second and subsequent franchises. The initial training fee for the second franchise is reduced by 25%. For the third and each subsequent franchise, the initial training fee is reduced by 50%.
Cinch I.T. also offers additional training programs, and may require franchisees or their employees to attend these programs. If more than two people are trained for a single franchised business, Cinch I.T. may require the franchisee to pay a training fee of $15,000 per person, per module. Cinch I.T. also maintains an on-site training and coaching program, for which it charges a fee of $100 per hour plus travel and living expenses for the trainer.