To whom is the initial franchise fee for Deck Medic paid?
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 paid to Deck Medic. For a single territory, the initial franchise fee is $30,000. If a franchisee elects to increase their operating territory by adding additional territories, the initial franchise fee will range from $50,000 for two territories to $95,000 for six territories.
The initial franchise fee is paid in a lump sum when the Franchise Agreement is signed. This fee grants the franchisee the right to operate a Deck Medic business within a defined territory, and it covers the costs associated with setting up the franchise, including training and support.
Prospective franchisees should note that the initial franchise fee is non-refundable. It's important to carefully consider the investment and ensure that they are fully committed to the Deck Medic franchise before signing the Franchise Agreement and paying the fee. Franchisees should also review Item 10 of the FDD for information on potential financing options for the initial franchise fee.