What is the deadline for an All States M.E.D. franchisee to develop the franchised business?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
5.2 Failure to Develop Franchised Business
Should Franchisee fail to develop the Franchised Business, in accordance with the other provisions of this Section 5 and within 300 days after this Effective Date, Franchisor has the right to terminate this Agreement and retain all fees paid to Franchisor by Franchisee.
5.3 Opening
Before opening the Franchised Business and commencing business, Franchisee must:
- (a) fulfill all of the obligations of Franchisee according to the other provisions of this Section 5;
- (b) furnish Franchisor with copies of all insurance policies required by this Agreement, or by the lease, or such other evidence of insurance coverage and payment of premiums as Franchisor may request;
- (c) complete initial training to the satisfaction of
Source: Item 23 — RECEIPTS (FDD pages 44–174)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, a franchisee has 300 days from the effective date of the Franchise Agreement to develop their franchised business. The 'Effective Date' is defined as the date when both All States M.E.D. and the franchisee have fully executed the agreement.
If the franchisee fails to develop the business within this 300-day period, All States M.E.D. has the right to terminate the agreement. In the event of termination due to failure to develop the business, All States M.E.D. retains all fees paid by the franchisee.
Before opening the All States M.E.D. business, the franchisee must fulfill all obligations outlined in Section 5 of the agreement, provide copies of all required insurance policies, and complete initial training to All States M.E.D.'s satisfaction.