What is the minimum condition expected for spaces considered in the Face Foundrie leasehold improvement estimates?

According to Face Foundrie's 2025 Franchise Disclosure Document, the leasehold improvement estimates are based on spaces delivered with a minimum of a level concrete floor suitable for floor coverings, HVAC, electricity, gas, sewers, bathroom facilities, water, and plumbing. These estimates assume standard tenant improvements and exclude structural construction, site surveys, site plans, energy studies, exterior improvements, or building elevations. The estimates also factor in 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, which ranges from $45,000 to $233,000, assumes the space already has basic utilities and a level floor. If a location requires significant additional work to bring it up to this minimum condition, the franchisee should anticipate higher costs. It is important to confirm with Face Foundrie whether a potential location meets these minimum requirements before signing a lease.

Furthermore, the FDD indicates that these estimates are based on locations in suburban or urban retail lifestyle centers with approximately 1,400 to 2,200 square feet. Locations outside of these parameters may also incur different costs. The document also notes that costs may be higher if tenant improvement allowances are not available through the landlord. Therefore, franchisees should carefully consider the condition of the premises and negotiate favorable lease terms to manage these expenses effectively.