What is the Initial Training Fee for a Cinch I.T. franchise?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
chise 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 technici
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 Initial Training Fee is $30,000. This fee is paid in a lump sum when the Franchise Agreement is signed. The fee covers the cost for one salesperson and one technician to attend the Initial Training Program. This fee is non-refundable.
For franchisees who enter into a Development Agreement for multiple Cinch I.T. franchises, the initial training fee is $30,000 for the first franchise. For the second Cinch I.T. franchise, the initial training fee is discounted by 25% of the then-current fee. For the third and subsequent franchises, the discount increases to 50% of the then-current fee. Each initial training fee must be paid in a lump sum when signing each respective Franchise Agreement.
The Cinch I.T. Initial Training Program includes a Pre-Training Program and the "Cinch University" Training Program. The "Cinch University" Training Program contains modules for franchise owner administration, sales training, and technical training. The Pre-Training Program is conducted via telephone, Webinar, and the Cinch I.T. Intranet and is expected to take 4-6 weeks to complete before attending the "Cinch University" Training Program.
Cinch I.T. reserves the right to charge a training fee of $15,000 per module for each additional person, each person repeating the course, and each subsequent operating principal, general manager, technician, or salesperson required to attend one or more modules of the Cinch University Training Program. If a franchisee does not successfully complete all required parts of the Training Program to Cinch I.T.'s satisfaction within 6 months after signing the Franchise Agreement, Cinch I.T. may terminate the Franchise Agreement without refund of any initial fees.