What is the initial franchise fee for a Fast Fix Jewelry And Watch Repairs franchise?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
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3.11. Purchasing Plans. Franchisee shall have the right to participate in system-wide purchasing plans that may be established by Franchisor from time to time.
ARTICLE 4. FEES AND PAYMENTS
4.1. Initial Fees.
- (a) Initial Franchise Fee. In consideration of the execution of this Agreement by Franchisor, Franchisee agrees to pay Franchisor an initial franchise fee (the "Initial Franchise Fee") of Twenty Thousand Dollars ($20,000). The Initial Franchise Fee is due, fully earned by Franchisor and payable to Franchisor immediately on Franchisee's execution of this Agreement. If Franchisee is a veteran participating in the International Franchise Association's VetFran Program, the Initial Franchise Fee will be reduced by 50%. Under no circumstances is the Initial Franchise Fee refundable.
- (b) Multiple Franchises. To encourage multiple Service Center development, for each additional Fast-Fix franchise that Franchisee opens, and as long as at the time of such opening Franchisee is not in default under this Agreement or any other agreement to which Franchisor and Franchisee are parties, Franchisee shall receive a discount of $5,000 from the then-current Initial Franchise Fee, as applicable. Notwithstanding the foregoing, if any of Franchisee's Fast-Fix Service Center franchises are sold within six months of Franchisee's opening of an additional Fast-Fix Service Center for which Franchisee receives a discount, Franchisee shall immediately reimburse Franchisor for the discount by remitting to Franchisor the amount of $5,000 by wire transfer or cashier's check. T
Source: Item 22 — CONTRACTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the initial franchise fee is $20,000. This fee is payable immediately upon the franchisee signing the Franchise Agreement and is considered fully earned by Fast Fix Jewelry And Watch Repairs at that time, and is non-refundable under any circumstances.
However, the FDD outlines some exceptions to the standard initial franchise fee. Veterans participating in the International Franchise Association's VetFran Program receive a 50% reduction in the initial franchise fee, effectively lowering it to $10,000. Additionally, to encourage the development of multiple locations, Fast Fix Jewelry And Watch Repairs offers a $5,000 discount on the initial franchise fee for each additional franchise a franchisee opens.
It's important to note that the veteran and multi-franchise discounts cannot be combined. If a franchisee qualifies for both, they will receive the discount that results in the lowest initial franchise fee. Furthermore, if a franchisee sells any of their Fast Fix Jewelry And Watch Repairs Service Center franchises within six months of opening an additional location for which they received a discount, they must reimburse Fast Fix Jewelry And Watch Repairs $5,000.