When is the initial franchise fee for a Fitstop franchise due?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
chise Fee
You must pay us an initial franchise fee amounting to $50,000 (the "Initial Franchise Fee"), which is due in a lump sum immediately upon execution of your Franchise Agreement. The Initial Franchise Fee is deemed fully earned upon execution of your Franchise Agreement, and is not refundable under any circumstances.
In the event you wish to develop multiple Franchised Businesses, then you may be offered and awarded the right to open and operate such businesses by either (a) entering into a separate form of our then-current franchise agreement for each such location, or (b) indicating that a single form of franchise agreement will govern more than one (1) Franchised Business in a form of exhibit or addendum to your initial Franchise Agreement at the time it is executed. The Initial Franchise Fee shall be due in connection with each Franchised Business you are awarded to develop, unless we agree otherwise in writing, and all other disclosures above will apply to such payments.
We expect and intend to impose the Initial Franchise Fee above uniformly on our new System fr
Source: Item 5 — INITIAL FEES (FDD pages 10–11)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the initial franchise fee of $50,000 is due in a lump sum payment immediately upon the execution of the Franchise Agreement. This fee grants you the right to operate a Fitstop franchise.
Fitstop considers the initial franchise fee fully earned upon the execution of the Franchise Agreement. This means that Fitstop is not obligated to refund the initial franchise fee under any circumstances, even if the franchisee does not open their Fitstop location.
If a franchisee wants to develop multiple Fitstop locations, the initial franchise fee is due for each location unless Fitstop agrees otherwise in writing. Fitstop intends to impose the initial franchise fee uniformly on all new franchisees.