What fees are included in the definition of 'Fees' payable to Southern Steer?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
Fees. "Fees" will collectively mean and include the Initial Franchise Fee, the Royalty Fees, the Brand Fund Contributions, administrative fees, and all other amounts then due and payable by the Franchisee to the Franchisor pursuant to this Agreement or any other agreement or for any products or services purchased by the Franchisee from the Franchisor or any of its Affiliates.
Source: Item 22 — ITEM. 22 CONTRACTS (FDD pages 61–168)
What This Means (2025 FDD)
According to Southern Steer's 2025 Franchise Disclosure Document, the term "Fees" encompasses several financial obligations a franchisee may have. These include the Initial Franchise Fee, Royalty Fees, Brand Fund Contributions, administrative fees, and any other amounts due to Southern Steer under the Franchise Agreement or any other agreement. This also covers payments for any products or services the franchisee purchases from Southern Steer or its affiliates.
This definition is important for prospective franchisees as it provides a comprehensive understanding of all the potential payments they may be required to make to Southern Steer throughout the duration of the franchise agreement. It is not limited to just the most obvious fees like royalties or initial fees.
Understanding this definition helps franchisees budget accurately and avoid surprises. Franchisees should carefully review the franchise agreement and related documents to fully understand the specific amounts and payment schedules for each type of fee included in this definition. This also allows franchisees to anticipate potential costs associated with purchasing products or services from Southern Steer.