Under what circumstances does Crown Gold Exchange charge a replacement/additional training fee?
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 openin
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Crown Gold Exchange may charge a training fee if a franchisee sends an employee to the training program after the store has opened. As of the date of the Franchise Agreement, the training fee is $250 per day.
This means that while the initial pre-opening training for the Principal Executive and up to two other employees is provided without a training fee, franchisees will incur a cost for any subsequent training needed for employees after the business is operational. This could be for new hires, or to provide additional training to existing staff.
Franchisees should factor this potential cost into their operating budget, especially if they anticipate high employee turnover or the need for ongoing skills development. It is important to note that the $250 per day fee is subject to change, as Crown Gold Exchange may adjust its training fees over time.