What is the per-day training fee for Crown Gold Exchange as of the date of the agreement?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
lty fee (the "Royalty Fee") equal $1,000 per month. The Royalty Fee for any given month is due by the 5th day of the following month
- 4.3 Replacement / Additional Training Fee. If Franchisee sends an employee to Crown Gold Franchising's training program after opening, Crown Gold Franchising may charge its then-current training fee. As of the date of this Agreement, the training fee is $250 per day.
- 4.4 Non-Compliance Fee. Crown Gold Franchising may charge Franchisee $500 for any instance of non-compliance with the System Standards or this Agreement (other than Franchisee's non-payment of a fee owed to Crown Gold Franch
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Crown Gold Exchange Franchise Disclosure Document, if a franchisee sends an employee to Crown Gold Exchange's training program after the store opens, Crown Gold Franchising may charge its then-current training fee. As of the date of the franchise agreement, this training fee is $250 per day.
This means that franchisees will need to budget for ongoing training costs if they want to send employees for additional training after the initial pre-opening training. The cost is $250 per day, per employee. This fee covers the training itself, but the franchisee is responsible for the employee's travel, lodging, and meal expenses.
It is important to note that the $250 per day fee is subject to change, as Crown Gold Franchising may charge its "then-current training fee" at the time the additional training is requested. Franchisees should confirm the current training fee with Crown Gold Exchange before sending employees to training. The initial pre-opening training for the Principal Executive and up to 2 other employees is provided without any training fee.