Does the provided table specify the franchise fees for Punch King Fitness?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
ther good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
I. GRANT OF DEVELOPMENT RIGHTS AND DEVELOPMENT AREA
Subject to the terms and conditions of this Agreement, Franchisor hereby grants the right to Developer, and Developer undertakes the obligation to establish and operate in the area designated in Exhibit 1 of this Agreement (the "Development Area") the number of Franchised Businesses specified in the development schedule on Exhibit 2 (the "Development Schedule"). This Agreement does not grant Developer any right to use the Marks; the rights to use the Marks are granted only by Franchise Agreements.
II. FEES
The total amount of the Development Fee is listed in Exhibit 2 (the "Development Fee"). The Development Fee will be applied toward the initial franchise fee due under subsequent Franchise Agreements in the manner specified in Exhibit 2.
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
Based on the 2024 Punch King Fitness Franchise Disclosure Document, the excerpts mention franchise fees but do not provide a specific table detailing these fees. Item 22 discusses contracts and fees, stating that the total amount of the Development Fee is listed in Exhibit 2. It also mentions that franchisees are obligated to pay a non-refundable initial franchise fee and monthly royalty fees, with certain other fees outlined in the agreement.
While the document confirms the existence of an initial franchise fee, development fees, and ongoing royalty fees, the exact amounts for these fees are not specified within the provided excerpts. Instead, the document refers to Exhibit 2 for the Development Fee amount.
A prospective franchisee should carefully review Exhibit 2 of the Franchise Disclosure Document to understand the full scope of the fees required to be paid to Punch King Fitness. It would also be prudent to ask the franchisor for a comprehensive breakdown of all fees, including initial franchise fees, royalty fees, and any other fees that may be required during the term of the franchise agreement.