When is the Crisp & Green initial franchise fee of $64,500 due?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
INITIAL INVESTMENT
| Type of Expenditure | Amount (1) | Method of Payment | When Due | To Whom Payment Is to Be Made |
|---|---|---|---|---|
| Initial Franchise Fee (2) | $64,500 | Lump sum | Upon signing the Franch |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 22–26)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, the initial franchise fee of $64,500 is due upon signing the Franchise Agreement. This fee is paid as a lump sum directly to Crisp & Green.
This means that a prospective Crisp & Green franchisee must have the full $64,500 available at the time they formally commit to the franchise by signing the agreement. This is a standard practice in franchising, as the initial fee compensates the franchisor for granting the franchise rights and providing initial support and training.
It's important to note that this fee is generally non-refundable, as stated in Note 1 of Item 7, unless payments are made to a third party and such third party agrees otherwise. Therefore, a potential franchisee should carefully consider their decision before signing the Franchise Agreement and paying the initial fee.