Detailed Estimates of Mighty Kicks Franchise Costs Based on Item 7 (Estimated Initial Investment) of Mighty Kicks’ 2016 Franchise Disclosure Document
1. Initial Franchise Fee: $8,700
- The franchisor may grant you an option to develop an additional territory at its sole discretion. The initial franchise fee for an additional territory is $4,500 and must be paid in full upon the signing of the then-current Franchise Agreement.
- The franchisor has the sole discretion to terminate the Franchise Agreement if it determines that you failed to satisfactorily complete the initial training and/or it believes you are an unsatisfactory franchisee based on your conduct, performance, and/or other circumstances before the opening of your franchised business.
- If the franchisor terminates the Franchise Agreement during your training or any time before the opening of your business, you will be refunded seventy-five percent (75%) of your initial franchise fee(s). No other refunds are available under any other circumstances.
2. Training Fees: $0 to $800
- The initial franchise fee covers training for 2 individuals. A fee of $400 per individual will be charged for additional members receiving training and must be paid in full at least two weeks prior to the first day of the initial training. All fees are non-refundable.
3. Travel and Living Expenses: $0 to $1,500
- You will pay your own expenses including travel, lodging, and food charges in connection with the initial training. Whether each payment is refundable is determined by each carrier you select. Training may take place within your territory.
4. Initial Insurance: $300 to $1,000
- You must obtain and maintain various types of insurance as set forth in the Franchise Agreement and Operations Manual. The franchisor estimates that the initial cost of this insurance will be $1,000 per year, depending on various factors specific to your business. Whether each payment is refundable is determined by each carrier you select.
5. Office Equipment and Supplies: $0 to $500
6. Prepaid Expenses and Deposits: $0 to $500
- This expense includes security deposits, utility deposits, business licenses, permit costs, and other prepaid expenses. Whether each payment is refundable is determined by each provider you select and/or each governmental entity to which you must apply.
7. Organizational Costs: $0 to $500
- Organizational costs include legal and accounting fees, incorporation costs, and other miscellaneous expenses incurred before opening. Whether each payment is refundable is determined by each service provider you select and for each governmental entity to which you must apply.
8. Soccer Equipment: $200 to $500
- You must obtain and maintain your own soccer equipment to use in the operations of your franchise. The necessary equipment and its specifications are detailed in the franchisor’s Operations Manual. Whether each payment is refundable is determined by each supplier you use.
9. Additional Funds (First 3 Months): $0 to $1,200
- This estimate is based on the franchisor’s affiliate’s past experience and may vary depending on a variety of factors, including location of territory and your preferences. Whether each payment is refundable is determined by each provider, vendor, and/or supplier you select.
10. Total Estimated Initial Investment: $9,200 to $15,200
- The franchisor has compiled the estimates based on its past experience. This table estimates your initial start-up expenses. These projections may not reflect the level of investment actually required of Mighty Kicks’ future franchisees.
- The actual investment may vary considerably from these estimates depending upon many factors, including location of the territory, costs, inflation, geographical area, and the capabilities of any particular management and service team.