What is the minimum fee for renewing a Closet Storage Concepts franchise agreement?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
| | costs for | | supplier | | | | | or |
| testing. | product. | ||
|---|---|---|---|
| Renewal of Franchise Agreement | 25% of the then current Initial Franchise Fee, subject to a minimum of $12,375. | Upon signing the then-current franchise agreement(s). | You must give us written notice, not less than six (6) months; nor more than twelve (12) months before the expiration of the franchise agreement(s), pay the renewal fee and me |
Source: Item 6 — OTHER FEES (FDD pages 13–18)
What This Means (2025 FDD)
According to Closet Storage Concepts's 2025 Franchise Disclosure Document, the renewal fee is 25% of the then-current Initial Franchise Fee, but it is subject to a minimum of $12,375. This means that when a franchisee chooses to renew their agreement, they will need to pay at least $12,375, and potentially more if 25% of the initial franchise fee at the time of renewal exceeds that amount.
To renew their Closet Storage Concepts franchise, franchisees must provide written notice to Closet Storage Concepts at least six months, but no more than twelve months, before the expiration of their current franchise agreement. In addition to providing timely notice, franchisees must pay the renewal fee and meet all other conditions that Closet Storage Concepts requires for renewal at that time.
It is important for prospective franchisees to understand the conditions for renewing their franchise agreement, as well as the costs associated with renewal. Franchisees should carefully consider these factors when deciding whether to renew their agreement, as failing to meet all conditions could result in the franchise not being renewed.