What is the estimated range for the cost of a service vehicle for a Deck Medic franchise?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Expenditure | Amount | Method of Payment | When Due | |
|---|---|---|---|---|
| To Whom Payment is Made | ||||
| Service Vehicle | $0 – $4,400 | As arranged | As incurred | Automobile |
| (Note 7) | dealers |
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 pickup truck in good working condition.
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 a service vehicle ranges from $0 to $4,400. Note 7 in Item 7 clarifies that this cost is 'as arranged' and 'as incurred' with automobile dealers.
The FDD indicates that franchisees may use their own pre-existing 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 higher end of the estimate, $4,400, accounts for a down payment of $2,000 and three months of lease installment payments or financed payments at $800 per month for one service vehicle.
The service vehicle must meet Deck Medic's standards and specifications, be registered and insured as a commercial vehicle, be wrapped in accordance with brand standards, and be in relatively new and clean condition. Typical vehicles approved by Deck Medic include a new or used van or pickup truck in good working condition. These payments for the service vehicle will be an ongoing expense throughout the operation of the Deck Medic business.