Can Dryer Vent Squad use the Brand Development Fund for public relations studies?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
We may use the Brand Development Fund for market studies, research, service development, product development, testing, research studies, technology development, advertising and public relations studies or services, creative production and printing of advertising and marketing materials, advertising copy and commercials, tracking costs, agency fees, administrative costs, which may include reimbursement for direct administrative and personnel costs associated with advertising and public relations, and any other costs associated with the development, marketing and testing of advertising, marketing and public relations materials, and the purchase of media placement, advertising time and public relations materials in national, regional or other advertising and public relations media in a manner determined by us, in our discretion, to be in the best interest of the franchisees and the System.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 30–36)
What This Means (2024 FDD)
According to Dryer Vent Squad's 2024 Franchise Disclosure Document, the Brand Development Fund can be used for public relations studies. Franchisees may be required to contribute up to 2% of their monthly Gross Sales to this fund. Dryer Vent Squad has broad discretion over how the Brand Development Fund is spent.
The funds may be used for a variety of purposes including market studies, research, service and product development, testing, technology development, advertising, and public relations studies or services. It can also cover creative production, printing of advertising and marketing materials, advertising copy and commercials, tracking costs, agency fees, and administrative costs. These administrative costs may include reimbursement for direct administrative and personnel costs associated with advertising and public relations.
Dryer Vent Squad and its affiliates may contribute to the Brand Development Fund, but are not required to do so. The Brand Development Fund is not used to directly promote an individual Dryer Vent Squad Business or its specific marketing area. While Dryer Vent Squad is not required to segregate the Brand Development Fund from its general operating funds and is not a fiduciary or trustee of the fund, it will maintain unaudited financial records detailing the fund's expenditures. An unaudited accounting of how the monies contributed to the Brand Development Fund were spent each year will be made available to franchisees, no more than once in any 12-month period.