What is the late payment fee for Pump It Up franchise payments?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
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- D. Advertising Contributions and Expenses. You will spend and/or contribute for advertising the amount we specify. The exact amount of the advertising dollars you must spend and contributions you must make to
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to the 2025 Pump It Up Franchise Disclosure Document, if a franchisee is late on any payment required by Section 7 of the agreement, Pump It Up may charge a late report fee of $75 for each day the payment is late.
Pump It Up also has the right to electronically debit the franchisee's business checking account automatically for any late payment fee. This highlights the importance of ensuring timely payments to avoid incurring these fees and potential automatic debits.
It is important for prospective franchisees to understand the implications of late payments and to factor these potential costs into their financial planning. Franchisees should maintain organized financial records and establish systems to ensure all payments are made on time to avoid these penalties.