When is the balance of the Pump It Up transfer fee due?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
| Cable/Satellite | | | | | Television Fee (5) | | | |
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Transfer Fee (1) | $10,000-$20,000 The fee will depend on level of initial training and support that the prospective transferee will require as part of the transfer. | $3,000 Transfer Deposit payable when we receive notice that you have identified a potential buyer and signed a purchase agreement; balance is due when PIU issues its consent to the transfer. | The Transfer Fee is not refundable. If the closing for the transfer does not occur and/or the prospective transferee has not fully completed our training program, we will not refund the Transfer Deposit. If during the 12-month period following your initial notice of the transfer, you identify another transferee, then we will apply the Transfer Deposit to the Transfer Fee for that |
Source: Item 6 — OTHER FEES (FDD pages 15–21)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, the balance of the transfer fee is due when PIU issues its consent to the transfer. The total transfer fee ranges from $10,000 to $20,000, depending on the level of initial training and support the prospective transferee requires.
To initiate the transfer process, a Pump It Up franchisee must pay a $3,000 transfer deposit when they notify Pump It Up of a potential buyer and sign a purchase agreement. This deposit is non-refundable, even if the transfer does not occur or the prospective transferee does not complete the training program. However, if the initial transfer falls through, Pump It Up will apply the deposit to the transfer fee for another transferee identified within 12 months of the original notice.
It's important to note that the transfer fee is subject to state law, which may impose additional requirements or limitations on the transfer process. Franchisees should consult with legal counsel to ensure compliance with all applicable state laws. The transfer fee structure is fairly standard in the franchise industry, with franchisors typically charging a fee to cover the costs associated with reviewing and approving the transfer, as well as training the new franchisee.