When is the payment for Insurance for a Crepe De Licious Kiosk due?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
Restaurant
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is to be Paid | |
|---|---|---|---|---|---|
| Low | High | ||||
| Initial Franchise | $35,000 | $35,000 | Lump sum | Upon signing of | Us |
| Fee(1) | Franchise Agreeme |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT YOUR ESTIMATED INITIAL INVESTMENT (FDD pages 18–25)
What This Means (2025 FDD)
According to Crepe De Licious's 2025 Franchise Disclosure Document, the payment for insurance is due 'As agreed' and is paid 'As incurred'. This means that the timing of insurance payments will depend on the specific agreement the franchisee has with their insurance providers or approved suppliers.
In practical terms, a prospective Crepe De Licious franchisee should discuss payment schedules with potential insurance providers during the setup phase. Insurance costs for a Crepe De Licious Kiosk are estimated to be between $4,000 and $7,000. Franchisees need to factor these payments into their initial investment and ongoing operational costs.
It is important to note that Crepe De Licious reserves the right to require franchisees to obtain insurance from their approved suppliers. Additionally, the FDD indicates that prior claims or issues from previous, unrelated business operations could significantly increase insurance rates. Therefore, a franchisee's individual circumstances can greatly affect the actual cost and payment schedule for insurance.