What is the training fee as part of the Buyer Commitment Agreement for Precision Door Service?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| up> | $20,000 | ||
|---|---|---|---|
| TYPE OF FEE | AMOUNT | DUE DATE | REMARKS |
| -------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| and for each Franchise Agreement transferred at the same time. | |||
| Training Fee as part of Buyer Commitment Agreement1 | $14,900 | Prior to attending training. | This fee is payable only in the event of a transfer where you and your transferee buyer request that the transferee buyer attend training prior to the closing on the sale of your Business and is in addition to all other tr |
Source: Item 6 — OTHER FEES (FDD pages 28–36)
What This Means (2025 FDD)
According to Precision Door Service's 2025 Franchise Disclosure Document, a training fee of $14,900 is required as part of the Buyer Commitment Agreement. This fee is specifically applicable in the event of a franchise transfer, where both the seller (you) and the buyer request that the buyer attend training prior to finalizing the sale of the business.
This training fee is in addition to any other transfer requirements or fees associated with the sale of the Precision Door Service franchise. It is due prior to the transferee buyer attending the training program. This suggests that Precision Door Service offers comprehensive training to ensure that new owners are well-prepared to operate the franchise effectively.
For prospective franchisees, this means that if you plan to sell your Precision Door Service franchise and your buyer wants to receive training before the sale is complete, a $14,900 fee will be required. This fee covers the cost of the training provided to the new owner and ensures they are properly equipped to maintain the standards and practices of the Precision Door Service brand. It's important to factor this cost into the financial planning of a franchise transfer.
It is important to note that this fee is non-refundable, as stated in the general notes of Item 6. Therefore, franchisees should carefully consider the timing and necessity of this training in the context of a franchise sale to avoid incurring unnecessary costs.