What is the amount of the initial franchise fee for a Pump It Up franchise, as detailed in Exhibit 1?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
A. Initial Franchise Fee.
- (1) At the same time that you sign this Agreement, you must pay us an initial franchise fee, in the amount set forth in Exhibit 1 (the "Initial Franchise Fee").
This fee is due, and fully earned by us, when you sign this Agreement.
(2) We may refund up to 50% of the Initial Franchise Fee you actually paid to us if, after making a good faith effort, as determined by us in our reasonable discretion, you:
(a) within one year of the Effective Date of the Franchise Agreement: (i) are unable to sign a lease agreement or real estate purchase agreement for a Premises to operate your Franchised Business; or (ii) to secure lender financing for the development and operation of your Franchised Business; and
(b) you provide us with written notice of your request for a refund prior to the one-year anniversary of the Franchise Agreement; and
(c) you execute a voluntary termination agreement and general release with us (See Exhibit E to the Franchise Disclosure Document).
(3) if you are an honorably discharged United States military veteran, we will discount the Initial Franchise Fee for your first Franchised Business by 25%.
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, the initial franchise fee is detailed in Exhibit 1. Upon signing the Franchise Agreement, the franchisee must pay the initial franchise fee, the amount of which is set forth in Exhibit 1. This fee is considered fully earned by Pump It Up when the agreement is signed.
Pump It Up offers a potential refund of up to 50% of the initial franchise fee if the franchisee, after making a good faith effort, is unable to sign a lease agreement or real estate purchase agreement for a premises, or secure lender financing for the business's development and operation within one year of the agreement's effective date. To qualify for this refund, the franchisee must provide written notice before the one-year anniversary of the Franchise Agreement and execute a voluntary termination agreement and general release with Pump It Up.
Pump It Up also provides a discount on the initial franchise fee for honorably discharged United States military veterans. Veterans receive a 25% discount on the initial franchise fee for their first Pump It Up franchise. Prospective franchisees should carefully review Exhibit 1 of the FDD to determine the exact initial franchise fee and all applicable conditions.