When is the Initial Franchise Fee due for a Cinch I.T. franchise?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
terms and conditions of Our then-current form of franchise agreement. In such circumstances, and notwithstanding the foregoing, We may, on ten (10) days written notice, terminate Your Franchise Agreement.
7. FRANCHISEE'S PAYMENTS
- (a) You shall pay to Us an Initial Franchise Fee of Fifteen Thousand Dollars ($15,000.00). Such Initial Fra
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 franchise fee of $15,000 is due in full upon the execution of the Franchise Agreement. This fee is non-refundable and is considered fully earned by Cinch I.T. at the time the agreement is signed.
For prospective Cinch I.T. franchisees, this means that the $15,000 initial franchise fee must be paid when signing the agreement to open a Cinch I.T. franchise. This fee grants the franchisee the right to operate a Cinch I.T. business under the terms and conditions outlined in the franchise agreement.
It is important to note that the initial franchise fee is non-refundable, regardless of whether the franchisee ultimately opens a Cinch I.T. Franchised Business. This is a common practice in franchising, as the fee compensates the franchisor for the initial costs associated with granting the franchise, such as training, support, and access to the Cinch I.T. brand and system.