What is the estimated cost for training expenses for a Hyper Kidz franchise?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
proved Suppliers |
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is to be Made |
|---|---|---|---|---|
| Computer System | $7,500 to $20,000 | As arranged | As arranged | Approved |
| (9) | Suppliers | |||
| Permits and | $2,000 to $6,000 | As arranged | As arranged | Government |
| Licenses (10) | Agencies | |||
| Building Permits/ | $5,000 to $20,000 | As arranged | As arranged | Government |
| Impact Fees | Agencies | |||
| Professional Fees (11) | $5,000 to $20,000 | As arranged | As arranged | Attorney, Designated Accountant |
| Insurance (12) | $3,800 to $16,000 | As arranged | As arranged | Insurance Companies |
| Training Expenses | $1,000 to $5,000 | As arranged | As incurred | Airlines, Hotels, |
| (13) | Restaurants | |||
| Grand Opening (14) Advertising | $5,000 to $14,000 | As arranged | As arranged | Suppliers |
| Additional Funds – | $40,000 to $70,000 | As arranged | As incurred | Various |
| 3 Months (15) |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 15–19)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, the estimated cost for training expenses ranges from $1,000 to $5,000. This estimate covers the out-of-pocket costs associated with attending the initial training program, including travel, lodging, meals, and applicable wages for the first three trainees.
It's important to note that these estimates do not include any fees or expenses for training additional personnel beyond the initial three. The lower end of the estimate assumes that the trainees live within driving distance of the training facility, while the higher end accounts for additional travel requirements.
In addition to these expenses, the franchisee must also pay a training fee of $7,500 when scheduling trainees to attend the initial training program. This fee covers the training for up to three people. If the franchisee wishes to send additional trainees, they must pay an additional training fee of $1,500 per person. The training fee itself is non-refundable.