What expenses can Crown Gold Exchange charge for providing in-person support?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| $100 plus interest on | On demand | We may charge a late fee if you fail to | |
| the unpaid amount at | make a required payment when due. | ||
| a rate equal to 18% | |||
| per year (or, if such | |||
| payment exceeds the | |||
| maximum allowed | |||
| by law, then interest | |||
| at the highest rate | |||
| allowed by law) | |||
| $30 (or, if such | |||
| amount exceeds the | |||
| maximum allowed | |||
| by law, then the | |||
| maximum allowed | |||
| by law) | |||
| Our actual costs | Payable if we incur costs (including | ||
| reasonable attorney fees) in attempting to | |||
| collect amounts you owe to us. | |||
| If we provide in-person support to you in | |||
| response to your request, we may charge | |||
| this fee plus any out-of-pocket expenses | |||
| (such as travel, lodging, and meals for | |||
| employees providing onsite support). |
Source: Item 6 — OTHER FEES (FDD pages 10–12)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, if a franchisee requests in-person support, Crown Gold Exchange may charge the franchisee their actual costs, plus any out-of-pocket expenses. These out-of-pocket expenses include travel, lodging, and meals for employees providing the onsite support.
This means that if a Crown Gold Exchange franchisee needs direct, hands-on assistance from the franchisor's team, they will be responsible for covering not only the time and effort of the support staff but also all associated travel and accommodation costs. This could potentially lead to a significant expense, especially if the franchisee is located far from Crown Gold Exchange's headquarters or if the support requires an extended stay.
Franchisees should consider this potential cost when evaluating the overall financial commitment of the franchise. It would be prudent to inquire about the typical circumstances that might necessitate in-person support and to get an estimate of the potential expenses involved in such a scenario. Understanding these costs upfront can help franchisees budget effectively and avoid unexpected financial burdens.