What is the Advanced Mobile Iv And Amiv renewal fee for Tiers 3 & 4?
Advanced_Mobile_Iv_And_Amiv Franchise · 2023 FDDAnswer from 2023 FDD Document
n prevailing rates and terms. Your failure or refusal to execute the renewal franchise agreement forms within 30 days after delivery to you may be regarded as an election by you not to renew.
27 – ADVANCED MOBILE IV FRANCHISE AGREEMENT
Upon renewal, the Franchise Territory may be modified and its geographic area may be reduced or expanded to meet our then current franchise market penetration and demographic standards and requirements.
You will pay to us the then-c
Source: Item 23 — RECEIPTS (FDD pages 54–202)
What This Means (2023 FDD)
According to Advanced Mobile Iv And Amiv's 2023 Franchise Disclosure Document, franchisees in Tiers 3 & 4 will pay a renewal fee of $10,000, plus applicable taxes, if they choose to renew their franchise agreement.
Several conditions apply to renewals. Franchisees must not be in breach of their current agreement to be eligible for renewal. The renewal term is for 5 years, and the franchisee must provide written notice of their intent to renew at least three months, but no more than six months, before the end of the current franchise term. The terms of the renewed agreement will be based on Advanced Mobile Iv And Amiv's then-current franchise agreement forms, which may differ materially from the original agreement. Royalty Fees, Marketing Fees and other fees will be set at the then prevailing rates and terms.
Additionally, upon renewal, Advanced Mobile Iv And Amiv may modify the franchise territory to meet its current market penetration and demographic standards. Franchisees must also refurbish or replace franchise equipment to meet the standards in the then-current Operations Manual, and Advanced Mobile Iv And Amiv places no limitation on the amount the franchisee may be required to spend on this. Finally, franchisees must execute a general release to release Advanced Mobile Iv And Amiv from any claims they may have against them.