Are there any fees associated with training or conferences detailed in Item 6 of the Fitstop FDD?
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 incur) | |||
| Technology Fee | Our then-current technology fee for any technology and related products/services we determine to associate with our then-current System (the "Technology Fee") Currently, our Technology Fee amounts to: (i) 2% of Gross Revenue generated by your Franchised Business over the preceding reporting period; and (ii) if applicable, an additional $12 to $15 per month for a second and each additional System-associated email account provided to or requested by System franchisee. |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2024 FDD)
According to the 2024 Fitstop Franchise Disclosure Document, there are fees associated with training and conferences. The training fee is currently $1,500 for each individual a franchisee wishes to engage and appoint as an Authorized Instructor. Additionally, there is a fee of $500 per day per trainer utilized for training beyond the initial training program, plus any out-of-pocket costs incurred by Fitstop.
Regarding conferences, Fitstop franchisees are expected to pay an annual convention fee. This fee is estimated to be around $1,500 to $2,000 per attendee. Franchisees are also responsible for covering the costs that attendees incur in connection with attending the event.
These fees should be considered by potential franchisees as part of their initial and ongoing investment. The training fees are crucial for ensuring that instructors are properly certified to provide approved services, while the annual convention fee is an ongoing cost for attending the annual convention. Understanding these costs is essential for budgeting and financial planning when investing in a Fitstop franchise.