What is the cost for Fitstop training required under the Franchise Agreement?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Training Fee(s) | Our then-current training fee for the type of training requested or other assistance/training requested by you and/or required under your Franchise Agreement (our "Training Fee") Currently, our Training Fee(s) are as follows: (i) $1,500 for the training that we provide and afford access to each individual that you wish to engage and appoint as an Authorized Instructor | On demand and as directed by us. | Please see Item 11 of this Disclosure Document for additional information. As previously noted in Item 1, as of the Issue Date we are willing to provide the System Instructor Training remotely to you and up to four (4) additional individuals that you determine to engage and wish to appoint as your initial Authorized Instructors of the Franchised Business, provided these individuals complete such training before undertaking or performing any Approved Services to any Franchised Business clientele. |
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| that will be eligible to provide Approved Services at your Franchised Business (the "Instructor Training"); and (ii) $500/day per trainer utilized in connection with all other training we provide beyond the Initial Training Program we conduct with you (plus any out-of-pocket costs we |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the training fee required under the Franchise Agreement is determined by Fitstop's then-current training fee for the type of training requested. Currently, the training fee is $1,500 for the training that Fitstop provides and affords access to each individual that the franchisee wishes to engage and appoint as an Authorized Instructor. Additionally, there is a fee of $500 per day per trainer utilized in connection with all other training Fitstop provides beyond the Initial Training Program, plus any out-of-pocket costs incurred by Fitstop.
This means that as a Fitstop franchisee, you will need to budget for these training costs. The $1,500 fee applies to each individual you want to become an authorized instructor. The $500 per day trainer fee plus out-of-pocket costs will apply to any additional training beyond the initial program. It is important to note that these fees are subject to change, as they are based on Fitstop's then-current rates.
Prospective franchisees should consider these training costs when evaluating the overall investment required to start and operate a Fitstop franchise. It would be prudent to discuss with Fitstop what the typical training requirements are for a new location and how often additional training is usually needed to estimate these ongoing costs accurately. Understanding these costs upfront will help in financial planning and ensure that you have sufficient capital to cover these expenses as they arise.