How much advance written notice will Hyper Kidz provide before increasing the technology fee?

According to the 2024 Hyper Kidz Franchise Disclosure Document, Hyper Kidz will provide franchisees with 60 days' prior written notice before increasing the technology fee. The FDD also specifies that technology fee increases will not occur more frequently than annually.

This advance notice allows franchisees time to adjust their financial planning and business strategies in anticipation of the increased cost. Knowing that increases can only happen once a year provides additional predictability for budgeting purposes.

Technology fees in a franchise system typically cover the costs of software, online platforms, and other technology-related services that the franchisor provides to help franchisees manage and market their businesses. The technology fee for Hyper Kidz is currently listed as $290 per month plus a $500 set up fee. Advance notice of changes to the technology fee is a beneficial practice, as it allows franchisees to evaluate the value they receive from the technology services against the cost.

Prospective franchisees should inquire about the historical frequency and magnitude of technology fee increases to better understand the potential financial impact on their business. They should also seek clarity on what specific technology services are covered by the fee to assess the value proposition.