What does the Construction Management Fee for an Extreme Art Studio cover?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Construction Management Fee.
You may opt to use our approved construction management supplier to manage the entire build out and construction of your Studio.
This fee is for the purposes of managing the entire build out, permitting and construction management of your Studio, including managing general contractors and sub-contractors.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 18–23)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, the Construction Management Fee covers the management of the entire build-out, permitting, and construction of your studio. This includes managing general contractors and subcontractors.
The fee is optional, meaning franchisees can choose to use Extreme Art Studio's approved construction management supplier or manage the construction themselves. The estimated cost for this fee ranges from $0 to $22,000, payable to approved suppliers as incurred.
This fee is part of the initial investment, and is paid to approved suppliers as incurred. Electing to use Extreme Art Studio's approved supplier can streamline the construction process, but franchisees should weigh the cost against the potential benefits of managing the project independently or using their own contractors.