When is the initial training fee due for a Cinch I.T. franchise?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
ITIAL INVESTMENT**
YOUR ESTIMATED INITIAL INVESTMENT
| TYPE OF EXPENDITURE1 | LOW ESTIMATED AMOUNT | HIGH ESTIMATED AMOUNT | METHOD OF PAYMENT | WHEN DUE | TO WHOM PAYMENT IS TO BE MADE |
|---|---|---|---|---|---|
| Initial Franchise Fee | $15,000 | $15,000 | Lump sum | At signing of Franchise Agreement | Us |
| Initial Training Fee2 | $30,000 | $30,000 | Lump sum | At signing of Franchise Agreement | Us |
| Travel & Living Expenses while Training2 | $1,250 | $1,800 | As |
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 initial training fee, which ranges from $30,000 to $30,000, is due in a lump sum at the signing of the Franchise Agreement. This fee is paid directly to Cinch I.T.
Prospective franchisees should note that this is just one component of the initial investment. They are also responsible for covering their own travel and living expenses while attending the training. These costs, paid to airlines, hotels, restaurants, and car rental companies, are estimated to be between $1,250 and $1,800 and are incurred during the training period.
It is important to note that all payments made to Cinch I.T. are non-refundable. Therefore, franchisees should carefully consider their decision before signing the Franchise Agreement and remitting the initial training fee.