What is the estimated low and high range for Deck Medic's professional fees?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Service Vehicle Wrap | $600 – $1,500 | As arranged | As incurred | Suppliers |
|---|---|---|---|---|
| Start-Up Marketing | $5,000 – $20,000 | As arranged | As incurred | Suppliers |
| (Note 8) | ||||
| Insurance Deposits – | $500 – $2,500 | As arranged | As incurred | Insurers |
| Three Months (Note 9) | ||||
| Travel for Initial | $2,000 – $5,000 | As arranged | As incurred | Airlines, hotels, |
| Training (Note 10) | restaurants | |||
| Professional Fees (Note 11) | $2,000 – $3,000 | As arranged | As incurred | Attorneys, accountants, advisors |
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 estimated cost for professional fees ranges from $2,000 to $3,000. These fees cover the costs of engaging professionals like attorneys, accountants, and advisors during the startup phase of your Deck Medic business. Deck Medic recommends seeking professional advice when evaluating the franchise opportunity, the Disclosure Document, and the Franchise Agreement.
These professional fees are paid as arranged and incurred directly to the attorneys, accountants, and advisors you choose to hire. It is also advisable to consult these professionals to review any lease and other contracts that you will enter into as part of the development and operation of your Deck Medic Business.
This estimate is part of the broader initial investment needed to start a Deck Medic franchise. Prospective franchisees should factor in these costs when planning their budget. Seeking advice from experienced professionals is a common practice in franchising, as it helps ensure that franchisees understand the legal and financial aspects of their investment.