From whom does Devon Creek recommend a franchisee lease their equipment?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
You must use a vehicle of the make, model, and age we require, for travel to your clients' properties. Your vehicle must be no more than 5 years old and in good condition at the time vehicle wrapping occurs, free of noticeable dents or damage. You may use a vehicle you currently own, if we determine, in our sole discretion, that it meets our specifications, and we give our consent. If you must purchase or lease a vehicle, we list current acceptable manufacturer/models in our operations manual. The high end of the above estimate represents the cost of three (3) months of lease payments on a vehicle with no down payment. You must maintain your vehicle in good working order, cleanliness and appearance and promptly repair any visible exterior damage, including but not limited to, dents and scratches. Your actual costs may be higher than the above-listed amount, depending on the quantity of equipment you lease and your credit history. We recommend that you lease this equipment from our approved suppliers. You may elect to purchase, rather than lease, your equipment. If you plan to purchase your vehicle the cost will be significantly higher than what is listed above.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT – START UP FRANCHISEE (FDD pages 16–21)
What This Means (2024 FDD)
According to the 2024 Devon Creek Franchise Disclosure Document, Devon Creek recommends that franchisees lease their vehicle from their approved suppliers. The FDD states that the high end of the estimated initial investment, between $3,000 and $10,000 for a service vehicle and wraps, represents the cost of three months of lease payments on a vehicle with no down payment.
Devon Creek requires that the vehicle used is no more than 5 years old and in good condition at the time vehicle wrapping occurs, free of noticeable dents or damage. The franchisee may use a vehicle they currently own, if Devon Creek determines, in its sole discretion, that it meets their specifications, and they give their consent.
The franchisee must maintain their vehicle in good working order, cleanliness and appearance and promptly repair any visible exterior damage, including but not limited to, dents and scratches. The FDD notes that the franchisee's actual costs may be higher than the amount listed, depending on the quantity of equipment they lease and their credit history. The franchisee may elect to purchase, rather than lease, their equipment, but if they plan to purchase their vehicle the cost will be significantly higher than what is listed.