Under what circumstances might Crown Gold Exchange charge a fee for 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, franchisees may incur fees for in-person support under specific circumstances. If a franchisee requests in-person support from Crown Gold Exchange, the company may charge a fee to cover the costs associated with providing that support.
This fee is designed to compensate Crown Gold Exchange for the expenses they incur when sending employees to a franchisee's location to provide assistance. These costs can include not only the time spent by the support staff but also out-of-pocket expenses such as travel, lodging, and meals for the employees providing the onsite support. Therefore, franchisees should carefully consider whether in-person support is necessary, as it can lead to additional expenses.
It is important for prospective Crown Gold Exchange franchisees to understand that these fees are in addition to any other fees outlined in the franchise agreement. Franchisees should also be aware that Crown Gold Exchange retains the right to determine the amount of the fee based on their actual costs. This policy is fairly standard in franchising, as franchisors often pass on the costs of specialized support to the franchisees who require it.