What is the Transfer Fee 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 |
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 Transfer Fee is $2,500. This fee is due upon the franchisee's request for consent to transfer the franchise or Area Development Agreement.
The FDD specifies that 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.
It's important to note that the Transfer Fee is non-refundable, regardless of whether the transfer is ultimately approved. This is a standard practice in franchising, as the franchisor incurs costs in reviewing and processing the transfer request.