What is the transfer fee for a Precision Door Service franchise?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
,000 and above | 4% | | TYPE OF FEE | AMOUNT | | | If you obtain QuickBooks Online through ZorWare, you will pay an additional fee of $30-$200 per month depending on the license tier that you select. | | | | | Late Fees (on | $25 per month or the maximum amount allowed under the law, whichever is less. | | Software | | | System Fees) 1,5 | | | Annual | s2,000 if you fail to attend or participate. | | Convention | | | ("Reunion") | | | Fees 1 | | | Transfer Fee 1, 5 | $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 transfer requirements. | | Late Fees1 | $10 per day | On demand | Applies to fees that are overdue. | | (Franchise | | | | | Agreement) | | | | | Dishonored Check or ACH Draft1 | $50 | On demand | You must pay us for each check returned or ACH draft refused by your financial institution for insufficient funds in your account. | | Interest1 | 12% on unpaid balances | On demand | Payable on all overdue amounts. The twelve percent (12%) charge is calculated as a per annum rate but may be collected on demand, including weekly or monthly through automatic bank draft.
Source: Item 6 — OTHER FEES (FDD pages 28–36)
What This Means (2025 FDD)
According to the 2025 Precision Door Service Franchise Disclosure Document, the standard transfer fee is $20,000. This fee is payable to Precision Door Service when a franchisee sells or transfers their franchise to a new owner.
In addition to the transfer fee, the buyer may be required to attend training, incurring a Training Fee as part of the Buyer Commitment Agreement of $14,900. This training fee is only applicable if both the seller and buyer request the training prior to the closing of the sale and is in addition to all other transfer requirements.
It is important to note that Legacy Franchisees (those who signed franchise agreements on or before December 31, 2020) may have a cap on their total transfer fee. A prospective franchisee should clarify with Precision Door Service what specific conditions apply to transfer fees, especially if the franchise being acquired was established before the cutoff date.