What is the fixed Renewal Fee for a Deck Medic franchise?

According to Deck Medic's 2024 Franchise Disclosure Document, the renewal fee is a fixed sum of $3,500. This fee is required if a franchisee chooses to renew their franchise agreement for an additional term.

The document specifies that the franchisee must agree to, sign, and deliver the then-current form of the Franchise Agreement for the Renewal Term to Deck Medic within 30 days of receiving it from the franchisor, along with the payment of the $3,500 Renewal Fee. The renewal term is defined as a 10-year period that commences after the expiration of the initial term.

It is important to note that the Renewal Term applies only if the franchisee is entitled to and invokes their renewal rights according to the terms and conditions outlined in the franchise agreement. This means that franchisees must meet certain criteria and follow specific procedures to be eligible for renewal. Franchisees should carefully review the conditions for renewal in their franchise agreement to ensure they understand the requirements and deadlines for exercising their renewal option.