What is the initial training fee for the first Cinch I.T. Franchise Agreement?
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 for the first Cinch I.T. Franchise Agreement. This fee covers the cost for the franchisee and one additional person to attend the initial training program.
The initial training fee is due in full when the franchisee signs the first Cinch I.T. Franchise Agreement. This fee is non-refundable and is considered fully earned by Cinch I.T. upon receipt of payment, regardless of whether the franchisee ultimately opens a Cinch I.T. business.
For franchisees who sign a Development Agreement for multiple Cinch I.T. locations, the initial training fee is reduced for subsequent franchise agreements. The training fee for the second Cinch I.T. franchised business is reduced by 25%, and the training fee for the third and each subsequent Cinch I.T. franchised business is reduced by 50%.