What were the initial franchise fees for Deck Medic in 2023?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
FRANCHISE AGREEMENT Schedule 2 Franchise Fee Acknowledgment
As of the Effective Date of the Franchise Agreement, Franchisor and Franchisee agree that:
Franchisee's Operating Territory Qualifies as a: (Check appropriate box below)
Single Territory Only Single Territory PLUS Additional Territory/Territories Number of Additional Territories Number of Total Territories Initial Franchise Fee. The Initial Franchise Fee is: $ Deck Medic, Inc. Name and Title (please print) Name (please print) Dated Dated Signature Name (please print) Dated
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, the initial franchise fee for Deck Medic is determined by the territory selected. Schedule 2 of the franchise agreement requires the franchisee to acknowledge the franchise fee. The document states that the franchisee's operating territory qualifies as either a single territory only, a single territory plus additional territories, and requires specification of the number of additional territories and the total number of territories. The initial franchise fee is then specified as a dollar amount, but the actual amount is not provided in this excerpt.
Because the initial franchise fee is not specified, a prospective franchisee should carefully review Schedule 2 of the Franchise Agreement within the FDD, which is titled "Franchise Fee Acknowledgment," to understand how the initial franchise fee is determined. The franchisee should also discuss with Deck Medic the factors that influence the fee, such as territory size and market potential.
Understanding the initial franchise fee is crucial for budgeting and financial planning. A potential franchisee needs to know the full cost of entry into the Deck Medic system to assess the financial viability of the franchise opportunity. They should also inquire about any financing options that Deck Medic may offer to cover the initial franchise fee.