What is the estimated down payment assumed for a Deck Medic service vehicle lease or finance?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
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Note 7: Service Vehicle – You may use your own preexisting vehicle if it meets our standards and specifications. If you do not have a service vehicle, you must use a Deck Medic branded and wrapped service vehicle for all customer visits. The high end of this estimate assumes a down payment of $2,000 and three months of lease installment payments or financed payments at $800 per month for one service vehicle. These payments will be an on-going expense throughout the operation of your Deck Medic Business. The service vehicle must meet our standards, and specifications, be registered and insured as a commercial vehicle, be wrapped in accordance with our brand standards and specifications and be in a relatively new and clean condition. Typical vehicles that we approve include a new or used van or picku
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 15–19)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the high-end estimate for a service vehicle assumes a $2,000 down payment. This also includes three months of lease installment payments or financed payments at $800 per month for one service vehicle. These payments are an ongoing expense throughout the operation of the Deck Medic business.
The FDD also states that franchisees may use their own preexisting vehicle if it meets Deck Medic's standards and specifications. However, if a franchisee does not have a suitable vehicle, they must use a Deck Medic branded and wrapped service vehicle for all customer visits. The vehicle must meet specific standards, be registered and insured as a commercial vehicle, be wrapped according to brand standards, and be in relatively new and clean condition.
Typical vehicles approved by Deck Medic include new or used vans or pickup trucks in good working condition. The estimated initial investment table in Item 7 shows the service vehicle costs ranging from $0 to $4,400, payable as arranged to automobile dealers. This range likely accounts for scenarios where a franchisee already owns a suitable vehicle (hence $0) versus needing to lease or finance one.