What is the range of the estimated initial franchise fee 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 incurred | During training | Airlines, hotels, restaurants and car rental |
| Marketing Starter Packag |
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 franchise fee is estimated to be $15,000. This fee is paid in a lump sum at the signing of the Franchise Agreement and is payable to the franchisor, Cinch I.T.
It's important to note that this fee is non-refundable, as stated in the general notes of Item 7. This means that once the Franchise Agreement is signed and the fee is paid, the franchisee cannot get this money back, even if they later decide not to proceed with opening the franchise.
For a multi-unit development agreement, the development fee for each franchised business to be developed is also $15,000, paid in a lump sum at the signing of the Multi-Unit Development Agreement directly to Cinch I.T.