GoliathTech Franchise Costs & Fees
Date of Incorporation: 2004
Franchising Since: 2013
Headquarters: Magog, Quebec
Country of Origin: Canada
Business Description: GoliathTech Inc. is the franchisor. Franchisees operate a business selling and installing helical piles (screw piles). Franchisees offer, sell and install foundation stabilization products for residential and commercial construction and provide the services and products operating under the marks and using the system.
Franchise Offer: Qualified individuals will operate a business selling and installing helical piles, manufactured by the franchisor. Franchisees will provide these services and products operating under the marks and using the system. Franchisees may operate the franchised business as an add-on to their current business, or they may operate the franchised business as a stand-alone.
Financial Assistance: The franchisor does not offer direct or indirect financing. The franchisor does not guarantee a franchisor’s note, lease or obligation.
Training and Assistance: Initially, franchisees may have just one person making the sales and installation. Franchisees or a designated manager must be responsible for business operations and management. All trainees must successfully complete the initial training program. The franchisor will provide initial training to franchisees and up to two additional persons, dependent upon how many installers franchisees have. The franchisor will offer additional mandatory training on new products or services that it may develop as part of the franchise system.
Territory: The franchisor will grant franchisees an exclusive geographic territory which the franchisor will describe in the Franchise Agreement. The territory will be comprised of approximately 70,000 to 120,000 households and be defined by towns, cities, counties, zip codes, or other geographic boundaries.
Term of Agreement and Renewal: The length of the initial franchise term is 5 years. If franchisees are in good standing and the franchisor continues the franchise system in the franchisee’s area, the franchisor may permit franchisees to renew for successive 5-year terms under the then-current agreement, which may be materially different than the agreement the franchisor is now offering.
Obligations and Restrictions: Franchisees must either devote their full time and effort to managing and operating the Licensed Business or delegate its management or operation to a responsible person that the franchisor has approved. Franchisees must reserve and exercise ultimate authority and responsibility over operation and management of the Licensed Business. If franchisees delegate management and operation to a manager, the manager must first successfully complete the initial training program within 60 days after assuming the role of manager. Franchisees may offer for sale only products and services the franchisor approves and manufactures.
Estimated Number of Units: 100
|Name of Fee||Low||High|
|Travel & Living Expenses While Attending Initial Training||$3,000||$5,000|
|Real Estate Rental & Deposits (3 months)||$100||$3,000|
|Equipment & Product Inventory||$20,300||$66,500|
|Computer & Software||$2,000||$2,500|
|Advertising (3 months)||$500||$1,000|
|Miscellaneous Opening Costs||$3,000||$3,500|
|Additional Funds (3 months)||$5,000||$10,000|
|Type of Fee||Amount|
|Royalty||There is no royalty fee.|
|Marketing Fee||3% of Gross Revenues or 6% of the price of Products purchased from the franchisor. The Marketing Fee may be increased to 4% upon 30 days prior written notice.|
|Local Marketing||3% of Gross Revenues.|
|Transfer Fee||20% of the then-current Initial Fee.|
|Expansion Fee||75% of the then-current Initial Fee.|
|Audit (3% or more under reporting)||1.5% per month interest on amount of underpayment plus the cost of the audit plus the amount of the underpayment.|
|Renewal||25% of the then-current Initial Fee.|
|Additional Training||$500 per person per day. Franchisees are solely responsible for all compensation, benefits and travel-related expenses for themselves or any employees.|
The above information has been taken from the FDD of GoliathTech. Year of FDD: 2016
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