What is the Successor Agreement Fee for a Crawlspace Medic franchise?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
. |
| Amount | Due Date | Remarks | |
|---|---|---|---|
| Successor Fee9 Agreement | $1,500 | Upon signing a then current form franchise agreement | The Successor Agreement Fee is paid to us, over and above any Royalties, Brand Fund or any other |
Source: Item 6 — OTHER FEES (FDD pages 10–16)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, a Successor Agreement Fee of $1,500 is required when signing a then-current form franchise agreement. This fee is in addition to any royalties, brand fund contributions, or other fees that Crawlspace Medic is entitled to.
This means that if a franchisee qualifies for and is granted a successor franchise agreement, they will need to pay Crawlspace Medic $1,500 at the time of signing the new agreement. This fee covers the administrative and legal costs associated with renewing the franchise agreement for another term.
It is important for prospective Crawlspace Medic franchisees to factor this fee into their long-term financial planning, especially if they anticipate renewing their franchise agreement multiple times. Franchisees should also be aware that this fee is separate from other ongoing fees, such as royalties and brand fund contributions, which will continue to be payable under the successor agreement.