What does the Technology Fee for a Fast Fix Jewelry And Watch Repairs franchise include?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| TYPE OF FEE 1 | AMOUNT 2, 3 | DUE DATE | REMARKS |
|---|---|---|---|
| Technology Fee | Up to $2,000 per month (currently $137 or $177 per month for POS system fees that we collect from you and remit to the licensor) | 10th day of month or as we otherwise specify | Includes amounts you pay us or our affiliate for Technology Systems, including (a) amounts you pay for proprietary items (b) amounts we collect from you and remit to third parties and (c) an administrative fee for managing the technology platform and negotiating/managing relationships with various licensors of the technology. It does not include amounts you pay to third parties. The current monthly fee is $137 if you have 1 POS station or $177 if you have 2 POS stations. |
Source: Item 6 — OTHER FEES (FDD pages 11–14)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the Technology Fee covers several aspects of the technology systems used in the franchise. This fee, which can be up to $2,000 per month, currently amounts to $137 or $177 per month for POS (Point of Sale) system fees. These fees are collected by Fast Fix Jewelry And Watch Repairs and then remitted to the licensor.
The Technology Fee encompasses amounts paid for proprietary items, fees collected and remitted to third parties, and an administrative fee for managing the technology platform. This administrative fee also covers negotiating and managing relationships with the various technology licensors. However, it's important to note that the Technology Fee does not include amounts franchisees pay directly to third parties for technology services.
In essence, the Technology Fee ensures that Fast Fix Jewelry And Watch Repairs franchisees have access to and support for the necessary technology systems to operate their businesses. The current monthly fee depends on the number of POS stations a franchisee operates, with $137 for one station and $177 for two stations. The Technology Systems include computer systems, point-of-sale systems, webcam systems, telecommunications systems, security systems, music systems and similar systems, together with the associated hardware, software (including cloudbased software) and related equipment, software applications, mobile apps and third-party services relating to the establishment, use, maintenance, monitoring, security or improvement of these systems.