When is the Initial Franchise Fee for a Deck Medic franchise due?
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. The initial franchise fee for a single territory is $30,000. However, if a franchisee elects to increase 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 have the initial franchise fee amount available at the time of signing the agreement to secure their franchise. This fee compensates Deck Medic for granting the franchise rights and providing initial support.
It is important to note that all fees are non-refundable, so a prospective 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, which could be a helpful option for some franchisees.