To whom are training payments made when opening a Punch King Fitness franchise?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| TYPE OF EXPENDITURE | AMOUNT | METHOD OF PAYMENT | WHEN DUE | TO WHOM | |
|---|---|---|---|---|---|
| PAYMENT IS MADE | |||||
| Training12 | $1,000 to $3,000 | As incurred | Before Beginning Operations | Airlines, Hotels, and other Suppliers |
The cost of initial training for you and your Franchised Business Designated Manager is included in the Initial Franchise Fee.
The amount in the table above reflects your travel and stay expenses during the initial training.
You must pay us additional tuition for additional trainees beyond you and your designee at our then-current rate, which is currently $500 per training, per person and $500 per day plus travel expenses for onsite training.
Monies paid for travel may be refundable if you have or purchase travel insurance or by policy of the hotel or airline.
You should contact the airline or hotel for more information.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 16–22)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, franchisees can expect to pay for training to airlines, hotels, and other suppliers. The FDD states that the cost of initial training for the franchisee and their designated manager is included in the initial franchise fee. However, the amount listed in the table reflects travel and stay expenses during the initial training.
For additional trainees beyond the franchisee and their designee, Punch King Fitness requires franchisees to pay additional tuition at the then-current rate. Currently, this rate is $500 per training, per person, plus travel expenses for onsite training.
It is important to note that monies paid for travel may be refundable if the franchisee has or purchases travel insurance or by policy of the hotel or airline. The franchisee should contact the airline or hotel for more information regarding refund policies.