What is the current monthly Technology Fee for the first Extreme Art Studio Business?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Type of Fee(1) | Amount | Due Date | Remarks |
|---|---|---|---|
| Technology Fee | Then-current fee (currently $400 per month) for the first Extreme Art Studio Business and the discounted rate for each additional Extreme Art Studio Business (currently $300 per month per additional Extreme Art Studio Business) | The first payment is due on the 1st day of the second month after signing the Franchise Agreement. Thereafter, monthly within five days of the end of the calendar month | For use of our online systems, website, applications, email, data sharing, integration and maintenance of DB Software, learning management software, search engine optimization for lead generation, and other Internet-related functions. We reserve the right to increase or decrease this fee, upon 30 days' written notice, in the event we offer updated or additional software or technology for use in the Extreme Art Studio Business or in the event of increases from third party suppliers. |
Source: Item 6 — OTHER FEES (FDD pages 13–18)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, the then-current Technology Fee is $400 per month for the first Extreme Art Studio Business. This fee is for the use of Extreme Art Studio's online systems, website, applications, email, data sharing, integration and maintenance of DB Software, learning management software, search engine optimization for lead generation, and other Internet-related functions.
The Technology Fee is due on the 1st day of the second month after signing the Franchise Agreement, and then monthly within five days of the end of the calendar month. Extreme Art Studio retains the right to increase or decrease this fee with 30 days' written notice if they offer updated or additional software or technology or if there are increases from third-party suppliers.
For prospective Extreme Art Studio franchisees, it is important to note that while the initial Technology Fee is set at $400 per month, this fee is subject to change during the term of the Franchise Agreement. Franchisees should factor in potential increases when budgeting and planning for ongoing operational costs. It is also important to understand what specific technologies and services are included in the Technology Fee to assess the value and necessity of these resources for their Extreme Art Studio Business.