Does Crawlspace Medic have the right to increase the cost of the technology fee?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
nd Fund in our sole discretion.
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- You will pay a monthly fee of one-half percent of Gross Revenue per unit for our technology which is currently Vonigo, Gmail and Ring Central and a one-time implementation fee of $2,500. We have the right to increase this cost and to substitute or add different approved t
Source: Item 6 — OTHER FEES (FDD pages 10–16)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, Crawlspace Medic does have the right to increase the cost of the technology fee. Currently, franchisees pay a monthly technology fee of one-half percent of Gross Revenue per unit for technologies like Vonigo, Gmail, and Ring Central, along with a one-time implementation fee of $2,500.
This means that Crawlspace Medic franchisees could see this monthly fee increase at some point during the term of their agreement. The FDD also states that Crawlspace Medic can substitute or add different approved technologies, which the franchisee would be required to use.
For a prospective franchisee, this clause indicates a potential for increased operating costs. It is important to factor in possible technology fee increases when projecting expenses and profitability. Additionally, franchisees should stay informed about any potential changes to the technology platforms used, as these changes could require additional training or adjustments to their business operations.