Does Crawlspace Medic offer discounts on the initial franchise fee?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
YOUR ESTIMATED INITIAL INVESTMENT
| 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 |
Notes:
-
- The initial franchise fee is the same for all similarly situated franchisees.
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 initial franchise fee is $59,000, and the document refers to Item 5 for available discounts. Item 7, which details the estimated initial investment, notes that the initial franchise fee is the same for all similarly situated franchisees.
Item 7 presents a table that includes the initial franchise fee as part of the total estimated initial investment, which ranges from $118,900 to $242,200. This total encompasses various expenditures, such as design and architectural fees ($0 to $3,000), construction and leasehold improvements ($0 to $20,000), furniture and fixtures ($1,000 to $5,000), equipment including a vehicle ($10,000 to $53,000), signage ($600 to $3,000), CRM/Back Office system ($2,500 to $4,300), initial inventory ($0 to $800), facility occupancy costs ($0 to $2,500), lease, utility, and security deposits ($1,300 to $2,600), insurance deposits and premiums ($2,000 to $8,000), pre-opening travel and training expenses ($5,000 to $10,000), initial launch marketing ($5,000 to $10,000), professional fees ($1,000 to $8,000), business permits and licenses ($500 to $1,500), office equipment and supplies ($1,000 to $1,500), and additional funds for the first three months ($40,000 to $60,000).
A prospective franchisee should refer to Item 5 of the FDD to understand the specific discount opportunities that Crawlspace Medic may offer. Understanding the conditions and eligibility requirements for any discounts on the initial franchise fee is an important aspect of evaluating the overall financial commitment.