factual

Where can I find the Franchise Premises Lease Agreement Rider for Afuri Ramen Dumpling?

Afuri_Ramen_Dumpling Franchise · 2024 FDD

Answer from 2024 FDD Document

Afuri Franchise Agreement: Exhibit 1

EXHIBIT 2 to FRANCHISE AGREEMENT

FRANCHISE PREMISES LEASE AGREEMENT RIDER

Source: Item 23 — Receipts (FDD pages 50–189)

What This Means (2024 FDD)

According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, the Franchise Premises Lease Agreement Rider is included as Exhibit 2 to the Franchise Agreement. Prospective franchisees are required to submit their lease or purchase documents for approval before entering into any agreement for the franchise premises. These documents must include the Franchise Premises Lease Agreement Rider as outlined in Exhibit 2. This rider ensures that Afuri Ramen Dumpling has certain rights regarding the franchise premises, including the ability to assume the lease under specific conditions.

Before signing a lease, Afuri Ramen Dumpling requires franchisees to submit the lease or purchase documents for approval. This process ensures that the location meets the brand's minimum acceptable criteria, based on their general business experience. The location must also meet the minimum square footage and other standards detailed in the Operations Manual. Franchisees are responsible for reviewing and determining the suitability of the lease, and Afuri Ramen Dumpling assumes no liability for the selection or approval of the location or lease.

The Franchise Premises Lease Agreement Rider itself outlines several key provisions. It states that the premises can only be used for operating an Afuri Ramen Dumpling facility and allows the franchisee to display the brand's service marks, trademarks, and logos. The rider also grants Afuri Ramen Dumpling certain rights, such as receiving reports and information about sales made at the franchise premises. Additionally, the landlord agrees that the lease can be assigned to Afuri Ramen Dumpling without their consent, and Afuri Ramen Dumpling has the option to receive an assignment of the lease upon termination or expiration of the franchise agreement.

Furthermore, the rider includes stipulations regarding the landlord's responsibilities, such as providing written notice to Afuri Ramen Dumpling of any breach by the tenant under the lease agreement. Afuri Ramen Dumpling then has the right, but not the obligation, to cure any such breach at the tenant's expense. Upon termination, expiration, or non-renewal of the lease agreement, the franchisee is responsible for de-identifying the franchise premises by removing signs, modifying architectural features, and repainting to eliminate the brand's color scheme. If the franchisee fails to do so, Afuri Ramen Dumpling has the right to de-identify the premises.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.