What is the Franchise Fee for a Cinch I.T. franchise?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
Item 5 INITIAL FEES*
Franchise Fee
The Franchise Fee is $15,000. You must pay the Franchise Fee in a lump sum when you sign the Franchise Agreement.
Initial Training Fee
You must pay us an Initial Training Fee of $30,000 in a lump sum when you sign the Franchise Agreement. The Initial Training Fee provides for one salesperson and one technician to attend the Initial Training Program.
Multi-Unit Development Fee
If you enter into a Development Agreement, you must pay us a development fee equal to the sum of the Initial Franchise Fee due for each Franchised Business that you agree to develop (the "Development Fee"). The Development Fee will be credited towards the initial Franchise Fee for each CINCH I.T. Franchised Business developed pursuant to the Development Agreement. You must pay the Development Fee in a lump sum when you sign the Development Agreement.
Source: Item 5 — INITIAL FEES (FDD pages 13–14)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the standard franchise fee is $15,000. This fee must be paid in a lump sum when the Franchise Agreement is signed. Honorably discharged veterans of the United States armed forces and their spouses may be eligible for a 50% discount on the then-current franchise fee.
For franchisees pursuing a multi-unit development agreement with Cinch I.T., the development fee is the sum of the initial franchise fee for each franchise they agree to develop. This development fee is credited toward the initial franchise fee for each Cinch I.T. location opened under the development agreement. The development fee is non-refundable.
It is important to note that all payments to Cinch I.T., including the franchise fee, are non-refundable. A prospective franchisee should carefully consider their financial situation and business plan before signing the Franchise Agreement and paying the franchise fee.