Where can I find information about center opening in the Annex Brands Franchise Agreement?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
CENTER OPENING. Franchisee agrees not to open the Center for business until: 1) all of Franchisee's obligations under Subsections 3.C and 3.D of this Agreement have been fulfilled; 2) Franchisor determines that the Center has been constructed, decorated, furnished, equipped and stocked with materials and supplied in accordance with approved plans and specifications; 3) pre-opening training of Franchisee and personnel of the Center has been completed to Franchisor's satisfaction; 4) the initial franchise fee and all other amounts then due to Franchisor and/or its affiliates have been paid; and 5) Franchisor has been furnished with copies of all insurance policies required in this Agreement, or such other evidence of insurance coverage and payment of premiums as Franchisor requests. Franchisee agrees to comply with these conditions and to open the Center for business within 365 days after execution of this Agreement. Franchisee further agrees to open the Center for business under this Agreement within 5 days after Franchisor gives written notice to Franchisee stating that the Center is ready for opening. If Franchisee fails to open the Center within 365 days after execution of this Agreement, except in the event of delays caused by Franchisor and/or delays caused by the Premises Owner (as defined in Subsection 3.B of this Agreement), Franchisor may terminate the Franchise at any time thereafter (see Subsection 8.A of this Agreement).
Source: Item 22 — Contracts (FDD pages 109–110)
What This Means (2025 FDD)
According to the 2025 Annex Brands Franchise Disclosure Document, details regarding the opening of a center can be found within the franchise agreement itself. Specifically, the agreement stipulates that a franchisee cannot open their Annex Brands center until certain conditions are met.
These conditions include fulfilling all obligations outlined in Subsections 3.C and 3.D of the agreement, ensuring the center is constructed, decorated, furnished, equipped, and stocked according to approved plans and specifications as determined by Annex Brands. Furthermore, the franchisee and their personnel must complete pre-opening training to Annex Brands' satisfaction. All due initial franchise fees and other amounts must be paid, and Annex Brands must receive copies of all required insurance policies or evidence of coverage and premium payments.
The Annex Brands franchisee is required to open the center within 365 days of signing the agreement and within 5 days of receiving written notice from Annex Brands confirming the center is ready. Failure to open within 365 days, barring delays caused by Annex Brands or the premises owner, may result in Annex Brands terminating the franchise agreement as per Subsection 8.A.