When is the monthly fee due for a Crown Gold Exchange franchise?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| $1,000 per month | Monthly, by the 5th | See Note 1 and Note 2. | |
| of the following | |||
| month |
Source: Item 6 — OTHER FEES (FDD pages 10–12)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, franchisees are required to pay a monthly fee of $1,000. This fee is due monthly, specifically by the 5th of the following month.
Crown Gold Exchange requires franchisees to pay royalty fees and other amounts due via preauthorized bank draft, but they can require an alternative payment method. It is important to note that all fees are payable only to Crown Gold Exchange, are imposed and collected by them, and are non-refundable. The FDD states that all fees are uniform for all franchisees.
If a franchisee fails to make a required payment when due, Crown Gold Exchange may charge a late fee. This late fee consists of $100 plus interest on the unpaid amount at a rate of 18% per year, or the maximum rate allowed by law if the 18% exceeds the legal limit. Franchisees should ensure timely payments to avoid these additional charges.