What is the maximum amount for the 'Annual Conference Attendance Fee' for a Dryer Vent Squad franchise?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
illary Agreements includes the Franchise Owner Agreement and Individual Guaranty and the Assignment of Telephone Numbers and Digital Media Accounts, as said agreements, individually and/or collectively, may have been entered into between the foregoing parties.
- "Annual Conference Attendance Fee" refers to and means an annual conference attendance fee to be paid by Franchisee to Franchisor in an amount determined by Franchisor but not to exceeding $1,500 annually.
- "Annual System Conference" refers to and means a conference that may be established and organized by Franchisor for the purpose of facilitating networking among Dryer Vent Squad Business franchisees, and general education.
Source: Item 23 — RECEIPTS (FDD pages 51–207)
What This Means (2024 FDD)
According to the 2024 Dryer Vent Squad Franchise Disclosure Document, the Annual Conference Attendance Fee is determined by the franchisor, but it will not exceed $1,500 annually. This fee is for the annual conference, which aims to facilitate networking and provide general education for Dryer Vent Squad franchisees.
Even if a franchisee chooses not to attend the Annual System Conference, Dryer Vent Squad may still charge the Annual Conference Attendance Fee. This means that franchisees could be required to pay the fee regardless of their attendance. Franchisees are also responsible for covering their own travel, meals, and lodging expenses associated with attending the conference.
Prospective franchisees should consider this mandatory fee as part of their ongoing expenses. It is important to budget for this expense, whether or not they plan to attend the conference. Franchisees should inquire with Dryer Vent Squad about the frequency and location of these conferences to better estimate the total potential costs.