When is the supplier approval fee due to Punch King Fitness?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| Name of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Supplier Approval | Reimbursement of costs and expenses Franchisor incurs in approving a supplier | When applicable | If you want us to approve a supplier for the purchase of a designated product or service other than the supplier we designate, we may require that you reimburse us for the costs and expenses we incur in approving the supplier. |
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 supplier approval fee is due when applicable. This fee is a reimbursement of costs and expenses Punch King Fitness incurs in approving a supplier.
Specifically, if a franchisee wants Punch King Fitness to approve a supplier for the purchase of a designated product or service other than the supplier Punch King Fitness designates, Punch King Fitness may require the franchisee to reimburse them for the costs and expenses they incur in approving the supplier.
This means that a Punch King Fitness franchisee will only be charged this fee if they request approval for an alternate supplier and Punch King Fitness incurs costs in evaluating and approving that supplier. The amount of the fee will depend on the specific costs incurred by Punch King Fitness during the approval process.