How are franchisees currently required to pay fees and other amounts due to Kidokinetics or its affiliates?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
pliers. We currently require you to pay fees and other amounts due to us or our affiliates via electronic funds transfer ("EFT") or other similar means. You are required to complete the ACH authorization (in the form attached to this Franchise Disclosure Document in Exhibit H). We can require an alternative payment method or payment frequency for any fees or amounts owed to us or our affiliates under the Franchise Agreement. If you purchase multiple Kidokinetics Businesses, the fees indicated in the chart above are the fees charged and/or incurred for each Kidokinetics Businesses except as otherwise noted. All fees are current as of the Issuance Date of this Franchise Disclosure Document. Certain fees that we have indicated may increase over the term of the Franchise Agreement. All fees are current as of the Issuance Date of this Franchise Disclosure Document. Certain fees that we have indicated may increase over the term of the Franchise Agreement. Also, any fee expressed as a fixed dollar amount is subject to adjustment based on changes to the Consumer Price Index ("CPI") in the United States. We may periodically review and increase these fees based on changes to the CPI (in addition to any other increase), but only if the increase to the CPI is more than 5% higher than the corresponding CPI in effect on: (a) the effective date of your Franchise Agreement (for the initial fee adjustments); or (b) the date we implemented the last fee adjustment (for subsequent fee adjustments).
Source: Item 6 — OTHER FEES (FDD pages 13–17)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, franchisees are currently required to pay all fees and other amounts due to Kidokinetics or its affiliates via electronic funds transfer (EFT) or other similar means. As a prospective franchisee, you must complete an ACH authorization form, which is included as Exhibit H in the Franchise Disclosure Document.
Kidokinetics retains the right to require alternative payment methods or payment frequencies for any fees or amounts owed under the Franchise Agreement. This provides Kidokinetics with flexibility in managing fee collection and adapting to changing circumstances.
It is important to note that all fees paid to Kidokinetics or its affiliates are uniform and non-refundable once paid. However, fees paid to vendors or other suppliers may be refundable, depending on the specific policies of those vendors and suppliers. Franchisees should carefully review the terms and conditions of any agreements with vendors to understand the refund policies. Franchisees should also be aware that certain fees may increase over the term of the Franchise Agreement and may be subject to adjustment based on changes to the Consumer Price Index (CPI) in the United States.