What is the estimated range for fire and life safety consultation for The Standardx?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of expenditure | Amount | Method of Payment | When due | To whom payment is to be made |
|---|---|---|---|---|
| Application Fee (1) | $95,000 to $145,000 | Lump sum | Upon signing franchise application | Us |
| Comfort letter fee(s) | $0 to $2,500 | Lump sum | When your lender(s) sign a comfort letter with us | Us |
| Alternative Design | $0 to $30,000 | As agreed | As incurred | Us |
| Review Fee | ||||
| Extension of opening deadline | $0 to $10,000 | As agreed | When you request extension of Hotel opening deadline | Us |
| IT Project Management Services fee and expense reimbursement | $64,995 to $69,630 | As agreed | Before the Hotel opens | Us |
| Signage | $65,000 to $100,000 | As agreed | As incurred | Suppliers |
| Telecommunications systems, security system and Technology System equipment and fees (2) | $638,600 to $777,650 | As agreed | As incurred | Suppliers and Hyatt Corporation |
| Column 1 Type of expenditure | Column 2 Amount | Column 3 Method of Payment | Column 4 When due | Column 5 To whom payment is to be made |
| Architecture and design | $537,500 to $1,950,000 | As agreed | As incurred | Architects, engineers, designers and other professionals |
| Construction, improvements, remodeling, decorating costs and other sitework | $21,875,000 to $67,500,000 | As agreed | As incurred | General contractor, suppliers and us or our affiliate |
| Furniture, fixtures, other fixed assets and equipment (3) | $3,375,000 to $12,000,000 | As agreed | As incurred | Suppliers |
| Operating supplies & | $625,000 to | As agreed | As incurred | Suppliers |
| equipment (4) | $2,700,000 | |||
| Fire and life safety | $15,000 to | As agreed | As incurred | Suppliers |
| consultation | $30,000 |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 36–40)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the estimated cost for fire and life safety consultation ranges from $15,000 to $30,000. This cost is paid as agreed upon, and is typically due as incurred to suppliers. This consultation is part of the initial investment required to establish a The Standardx franchise.
Fire and life safety consultations are a standard part of opening a hotel franchise, ensuring that the building meets all local and national safety codes. These consultations can identify potential hazards and ensure that the building is equipped with the necessary safety equipment, such as fire alarms, sprinkler systems, and emergency exits. The cost of these consultations can vary depending on the size and complexity of the building, as well as the location of the franchise.
Prospective franchisees should factor this cost into their overall budget when considering a The Standardx franchise. It is important to note that this is just an estimate, and the actual cost may be higher or lower depending on the specific circumstances of the franchise location. It would be prudent for potential franchisees to discuss this cost with the franchisor and to obtain quotes from multiple suppliers to ensure they are getting the best possible price.