factual
When is the Renewal Franchise Fee due for a Punch King Fitness franchise?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Name of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Transfer Fee | $2,500 | Upon Franchisee's request for consent to the proposed transfer of franchise or Area Development Agreement | A transfer includes any sale, assignment, conveyance, giving away, pledging, mortgaging, or otherwise encumbering any interest in ownership in the Franchised Business, Franchise Agreement, or Area Development assets outside of the ordinary course of business or ownership rights. The Transfer Fee is non refundable |
| Renewal Franchise Fee | $2,500 | At least 9 months before the expiration of the franchise | To transfer your franchise, you must pay this fee and meet the conditions listed in the Franchise Agreement. |
| Interim Franchise Royalty Fees | Franchisor's then-current Royalty Fee plus 2% | 4th of each month when applicable | An Interim Franchise Fee applies if your Franchise Agreement expires, no renewal franchise agreement is signed, and you continue the franchise business operation. |
| Relocation Fee | Reimbursement of Franchisor's costs and expenses incurred for reviewing or approving the relocation | When applicable | If you relocate your franchise business, you must reimburse us for the cost and expenses we incur in connection with your r |
Source: Item 6 — OTHER FEES (FDD pages 10–16)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, the Renewal Franchise Fee is $2,500. This fee must be paid at least 9 months before the expiration of the current franchise agreement.
Paying the renewal fee is one of the requirements to renew your Punch King Fitness franchise. The FDD specifies that meeting other conditions listed in the Franchise Agreement is also required for renewal.
Franchisees should mark their calendars and plan to submit the renewal fee well in advance to avoid any potential issues with the renewal process. Failing to pay on time could jeopardize the franchisee's ability to continue operating under the Punch King Fitness brand.
Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.