What is the Transfer Fee for a Dryer Vent Squad franchise if the transferee is an existing franchisee?

According to Dryer Vent Squad's 2024 Franchise Disclosure Document, the transfer fee is dependent on whether the transferee is an existing franchisee. If an existing Dryer Vent Squad franchisee is the transferee, the transfer fee is $5,000. However, if the transferee is not an existing franchisee, the transfer fee increases to $12,500.

This fee is payable to Dryer Vent Squad and is one of the conditions that must be met for the franchisor to approve the transfer. The transfer process also involves other requirements, such as ensuring that the existing franchisee is in substantial compliance with the franchise agreement and that the transferee meets Dryer Vent Squad's standards for franchisees.

For a prospective franchisee, this means that expanding their Dryer Vent Squad business by acquiring an existing franchise unit from another franchisee comes with a lower transfer fee than if they were transferring the franchise to someone outside of the Dryer Vent Squad system. This could incentivize existing franchisees to grow within the system. It is important to note that even with the reduced fee, all other conditions for transfer must still be met.