What is the initial franchise fee 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 |
Explanatory Notes to Item 7 for Multiple Territories
Note 1: Initial Franchise Fee – The Initial Franchise Fee for an operating territory comprised of a single Territory is $30,000. If you elect to increase the size of your operating territory by adding Additional Territories the total Initial Franchise Fee will range from a low of $50,000 for a total of two Territories to $95,000 for a total of six Territories.
Note 1: Initial Franchise Fee – The Initial Franchise Fee for a Deck Medic Business under a Franchise Agreement is $30,000 for a single Territory. All fees are non-refundable. We may finance a portion of your initial franchise fee (See Item 10).
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 for a single territory is $30,000. This fee is paid in a lump sum when the Franchise Agreement is signed. The FDD also states that all fees are non-refundable. Deck Medic may offer financing for a portion of the initial franchise fee, as detailed in Item 10 of the FDD.
For franchisees interested in expanding their territory, the initial franchise fee varies depending on the number of territories acquired. For an operating territory comprised of a single territory, the fee remains $30,000. However, if a franchisee elects to increase their operating territory by adding additional territories, the total initial franchise fee ranges from $50,000 for two territories to $95,000 for six territories.
It is important to note that these fees are specifically for the right to operate a Deck Medic franchise and do not cover other startup costs. Prospective franchisees should carefully consider their financial resources and business goals when deciding whether to purchase a single territory or multiple territories. Consulting with a franchise advisor or financial professional is recommended to assess the financial implications and potential return on investment for each option.