What does the estimate for Technology Fees include for an Extreme Art Studio franchise?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
ftware Fee. You will begin paying the Technology Fee on the first day of the second month following your signing of the Franchise Agreement. This estimate includes three months payment of the Technology Fee. You will also pay third parties the then-current license fee for the CR Software, which is currently $35 to $535 per month based on
- volume and the DB Software Fee, which is currently $225 to $300 per month, depending on the size of your database. See Items 6 and 11 for additional
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 Technology Fees estimate includes the payment of the Technology Fee for three months. In addition to the Technology Fee, franchisees must also pay for the CR Software and the DB Software. The CR Software fee is between $35 and $535 per month, while the DB Software Fee ranges from $225 to $300 per month. The amounts depend on volume and the size of the database, respectively.
These fees are paid to third parties. The Technology Fee is paid to Extreme Art Studio. Item 6 and Item 11 provide additional information about these fees.
The initial investment table shows that the Technology Fees range from $500 to $1,500, the CR Software Fee for three months ranges from $105 to $1,605, and the DB Software Fee for three months ranges from $675 to $900. These fees are paid as incurred to Extreme Art Studio or approved suppliers.