When is the training fee due for a Hyper Kidz franchise?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
ndable under any circumstances.
Training Fee: You must pay us a training fee equal to $7,500 when you schedule your trainees to attend our initial training program. We will train up to three people for the training fee. If you wish to send additional trainees to our initial training program, you must pay an additional training fee of $1,500 per person. You must also pay all expenses your trainees incur while attending training, including travel, lodging, meals and applicable wages. T
Source: Item 5 — INITIAL FEES (FDD pages 9–10)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, the training fee, which is $7,500, is due when you schedule your trainees to attend the initial training program. This fee covers training for up to three people. If you want to send more than three people, you must pay an additional $1,500 per person. The training fee is non-refundable.
In addition to the training fee, the franchisee is responsible for all expenses incurred by the trainees while attending the training program. These expenses include travel, lodging, meals, and any applicable wages for the trainees. The training program is mandatory for the franchisee (or one of their principals), the general manager, and one additional trainee, and it must be completed no later than 60 days before the Hyper Kidz business begins operation.
This means that a prospective Hyper Kidz franchisee needs to budget not only for the $7,500 training fee, but also for the additional costs of sending themselves and their team to the training location. These additional costs can vary significantly depending on the location of the franchise and the number of additional employees sent for training. It is important to factor in these costs when evaluating the overall investment required to start a Hyper Kidz franchise.