What is the initial franchise fee for a Golden Krust Caribbean Restaurant?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
You must pay the initial franchise fee (the "Initial Franchise Fee") of $40,000 when you sign the Franchise Agreement.
We may reduce or waive the initial franchise fee for certain franchisees including, but not limited to, employees of ours or of our related entities and for family members (and their heirs) who are shareholders of ours or of our related entities. Except as stated, the fees described in this Item are uniformly imposed, payable in lump-sum, deemed fully earned when paid, and are non-refundable under any and all circumstances. During our last fiscal year, franchisees paid between $10,000 to $40,000 for the initial franchise fee.
Source: Item 5 — INITIAL FEES (FDD page 11)
What This Means (2024 FDD)
According to Golden Krust Caribbean Restaurant's 2024 Franchise Disclosure Document, the initial franchise fee is $40,000. This fee is payable in a lump sum when the Franchise Agreement is signed. Item 5 of the FDD provides more detailed information regarding the initial franchise fee.
The FDD indicates that this fee is generally non-refundable and deemed fully earned upon payment. However, Golden Krust Caribbean Restaurant may reduce or waive the initial franchise fee for certain franchisees, including employees or family members who are shareholders of Golden Krust Caribbean Restaurant or its related entities.
During the last fiscal year, the initial franchise fees paid by franchisees ranged from $10,000 to $40,000. This suggests that while the standard fee is $40,000, some franchisees may have received a reduced rate based on specific circumstances or promotions offered by Golden Krust Caribbean Restaurant.