What is the payment method for the architectural plans for a Crisp & Green franchise?
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 Franchise Agreement | Us |
| Crisp & Go Location Fee | $0 to $5,000 | Lump sum | Upon approval to add a Crisp & Go Location | Us |
| Site survey <s |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 22–26)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, architectural plans, which range from $17,000 to $25,000, are paid via a lump sum. This payment is due at least 30 days prior to the commencement of construction or remodeling. The payment is made to Crisp & Green's architectural services provider.
It is important to note that Crisp & Green requires franchisees to use their approved architectural vendor for creating these plans. This means franchisees do not have the option to seek alternative providers or negotiate pricing, which could potentially impact their overall initial investment costs.
Prospective franchisees should factor this expense and payment timeline into their financial planning. Ensuring timely payment is crucial to avoid delays in the construction or remodeling phase, which could push back the opening date and impact revenue projections. Understanding the specific services covered by the architectural plans and the vendor's reputation is also advisable.