What is the 'Operating Principal' defined as for a Crawlspace Medic franchisee that is an entity?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
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- This estimate is for the cost for you or your Operating Principal (defined as the managing shareholder, member or partner of Franchisee if Franchisee is an entity), plus up to two other individuals to attend the initial training program held at our corporate office in Columbia, South Carolina.
We do not charge tuition for training up to three people, but you will be responsible for all costs associated with attending the initial training program for you and your staff.
Your costs will depend on the number of people attending training, their point of origin, method of travel, class of accommodation and living expenses (food, transportation, etc.).
The duration of the training program is approximately four weeks for you or your operating principal and approximately two weeks for your field technicians.
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 Operating Principal is defined as the managing shareholder, member, or partner of the franchisee if the franchisee is a business entity. This definition is relevant in the context of the initial training program. Crawlspace Medic requires either the franchisee or the Operating Principal to attend the initial training program at their corporate office in Columbia, South Carolina.
Crawlspace Medic does not charge tuition for training up to three people. However, the franchisee is responsible for covering all costs associated with attending the initial training program for themselves and their staff. These costs include travel, accommodation, and living expenses. The training program lasts approximately four weeks for the franchisee or the Operating Principal and about two weeks for field technicians.
Therefore, if a franchisee is a corporation, LLC, or partnership, Crawlspace Medic requires the managing individual within that entity to fulfill the training requirement. This ensures that someone with decision-making authority within the franchisee's organization is properly trained to operate the Crawlspace Medic franchise.