What is the estimated range for Facility Occupancy Costs for a Crawlspace Medic franchise?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is Made |
|---|---|---|---|---|
| Initial Franchise Fee1 | $59,000 | Lump sum payment in cash or available funds. | Upon signing the Franchise Agreement. | Payable to us |
| Design and | $0 to | As incurred | Before opening | Third-Party Providers |
| Architectural Fees2 | $3,000 | |||
| Construction, Leasehold Improvements 2 | $0 to $20,000 | As incurred | Before opening | Contractor/Third-Party providers |
| Furniture and | $1,000 to | As incurred | Before opening | Third-Party Providers |
| Fixtures2 | $5,000 | |||
| Equipment (Including | $10,000 to | Lump sum | Before opening | Third-party providers and |
| Vehicle)3 | $53,000 | us | ||
| Signage (including | $600 to | As incurred | Before opening | Third-party providers or |
| vehicle)4 | $3,000 | Us | ||
| CRM/Back Office | $2,500 to | Lump Sum | Before opening | Third-party providers |
| System5 | $4,300 | |||
| Initial Inventory6 | $0 to $800 | As incurred | Before opening | Payable to us |
| Facility Occupancy | $0 to | As incurred | Before opening | Landlord |
| Costs7 | $2,500 | |||
| Lease, Utility, and | $1,300 to | As incurred | Before opening | Utility providers |
| Security Deposits8 | $2,600 | |||
| Insurance Deposits | $2,000 to | As arranged | Before opening | Insurance company |
| and Premiums9 | $8,000 | |||
| Pre-opening Travel and Training Expense10 | $5,000 to $10,000 | As incurred | Before opening | Airline, hotel, restaurants |
| Initial Launch | $5,000 to | As incurred | Prior to opening | Third parties |
| Marketing | $10,000 | |||
| Professional Fees11 | $1,000 to $8,000 | As arranged | Before opening | Attorneys, accountants |
| Business Permits and | $500 to | As incurred | Before opening | Licensing Authorities |
| Licenses12 | $1,500 | |||
| Office Equipment and | $1,000 to | As incurred | Before opening | Third-party providers |
| Supplies13 | $1,500 | |||
| Additional funds – 3 | $40,000 to | As incurred | After opening | Various |
| Months14 | $60,000 | |||
| TOTAL15 $118,900 to $242,200 |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 16–20)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the estimated initial investment for facility occupancy costs ranges from $0 to $2,500. These costs are to be paid as incurred before opening to the landlord.
According to the FDD, the low estimate assumes a 1,000 square foot facility in a suburban location. The high estimate also indicates a location with 1,000 square feet in a suburban location. The document specifies that this estimate represents a three-month deposit of rent.
Pre-paid rent is generally nonrefundable, while security or other deposits may be refundable either in full or in part, depending upon the lease or rental contract. As with any lease, a prospective Crawlspace Medic franchisee should carefully review the terms and conditions with a professional advisor to fully understand their obligations and potential liabilities.