To whom is the initial franchise fee for a Hyper Kidz franchise paid?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
ESTMENT**
YOUR ESTIMATED INITIAL INVESTMENT
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is to be Made |
|---|---|---|---|---|
| Initial Franchise Fee (1) | $42,500 | Lump Sum | On signing Franchise Agreement | Us |
| (1) | $10,500 | As arranged |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 15–19)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, the initial franchise fee of $42,500 is paid to Hyper Kidz. This fee is due in a lump sum when the Franchise Agreement is signed.
In addition to the initial franchise fee, franchisees must also pay a training fee of $7,500 to Hyper Kidz when they schedule their trainees to attend the initial training program. This training fee covers up to three people. If a franchisee wants to send additional trainees, they must pay an additional training fee of $1,500 per person.
For multi-unit developers, the development fee of $85,000 is also paid to Hyper Kidz upon signing the Multi-Unit Development Agreement. Understanding these payment details is crucial for prospective franchisees as they plan their initial investment and budget for opening a Hyper Kidz franchise.