What is the deadline for a 360 Painting franchisee to provide written notice of their election to renew the franchise?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
3.2 Renewal. Upon the expiration of the Initial Term, Franchisee shall have the right to renew the franchise granted hereunder for up to two (2) successive ten (10) - year periods, provided that all of the following conditions are met:
(i) Franchisee gives Franchisor written notice of its election to renew the franchise not less than six months nor more than nine months prior to the expiration of the Initial Term;
(ii) Franchisee is not, when notice is given, and does not become prior to the expiration of the Initial Term, in default of any provision of this Agreement or any other agreement between Franchisee and Franchisor or its subsidiaries or affiliates or with any other creditor or supplier of the Business, and Franchisee must have consistently complied with all the terms and conditions of this Agreement and all such other agreements throughout their terms;
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 360 Painting Franchise Disclosure Document, a franchisee has the option to renew their franchise agreement for up to two additional ten-year periods after the initial term expires. To exercise this renewal option, the franchisee must provide 360 Painting with written notice of their intent to renew.
The deadline for submitting this written notice is specifically defined. The franchisee must provide this notice not less than six months nor more than nine months before the end of the initial ten-year term. Missing this window, either by submitting notice too early or too late, could result in the franchisee losing their right to renew the franchise.
In addition to providing timely written notice, the 360 Painting franchisee must also be in good standing with the company to qualify for renewal. This means the franchisee cannot be in default of any terms outlined in the Franchise Agreement or any other agreements with 360 Painting or its affiliates. Furthermore, the franchisee must have consistently adhered to all the terms and conditions of these agreements throughout their duration.