What items are excluded from the Face Foundrie leasehold improvement estimates?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
Our estimates are based on the assumption that the location is in suburban or urban retail lifestyle center space with approximately 1,400 to 2,200 square feet.
Estimates are based on spaces delivered in a variety of conditions, but typically with a minimum of a level concrete floor suitable for floor coverings, HVAC, electricity, gas, sewers, bathroom facilities, water and plumbing.
Our estimates assume standard tenant improvements and excludes items such as structural construction, site surveys, site plans, energy studies, exterior improvements, or building elevations.
Estimates assume a typical tenant improvement allowance, cash contribution, or landlord work letter from your landlord for the cost of improvements.
Your costs may be higher if these arrangements are not available through your landlord.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 23–27)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the leasehold improvement estimates do not include expenses for structural construction, site surveys, site plans, energy studies, exterior improvements, or building elevations. The estimates assume standard tenant improvements in suburban or urban retail lifestyle centers, with the space already having a level concrete floor, HVAC, electricity, gas, sewers, bathroom facilities, water, and plumbing. These estimates also assume a typical tenant improvement allowance, cash contribution, or landlord work letter from the landlord.
For a prospective Face Foundrie franchisee, this means that the initial investment estimate for leasehold improvements may not cover all potential construction-related costs. If the location requires significant structural work or exterior modifications, the franchisee will likely incur additional expenses beyond the estimated range. It is important for franchisees to assess the condition of the potential location and negotiate tenant improvement allowances with the landlord to mitigate these costs.
Furthermore, if a landlord does not provide a tenant improvement allowance, cash contribution, or landlord work letter, the franchisee's costs may be higher. Therefore, it is crucial to factor in these potential additional costs when evaluating the financial feasibility of opening a Face Foundrie franchise. Understanding these exclusions and assumptions is essential for accurate budgeting and financial planning.