When is the initial franchise fee due 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 | ||||
| Initial Franchise Fee | $30,000 | Lump sum | When Franchise | Us |
| (Note 1) | Agreement is signed |
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 initial franchise fee is due when the Franchise Agreement is signed. For a single territory, the initial franchise fee is $30,000. If a franchisee elects to increase the size of their operating territory by adding additional territories, the total initial franchise fee will range from $50,000 for two territories to $95,000 for six territories.
This means that a prospective Deck Medic franchisee must pay the initial franchise fee in a lump sum at the time they sign the franchise agreement. This fee grants the franchisee the right to operate a Deck Medic business within their designated territory. The fee compensates Deck Medic for granting the franchise and providing initial training and support.
It is important to note that all fees are non-refundable, so a prospective Deck Medic franchisee should carefully consider their decision before signing the Franchise Agreement. Deck Medic may offer financing for a portion of the initial franchise fee, as detailed in Item 10 of the FDD. Franchisees should review Item 10 for more information on financing options.