As of what date does the Aplus Franchise Agreement become effective?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
The address of the approved location for the Franchised Business is described, or if not yet identified as of the Effective Date, is described on Attachment 1 ("Key Terms"). You must identify and acquire a site for the APLUS Store within thirty (30) days after the Effective Date of this Agreement. The site must meet Franchisor's then-current site selection criteria, and must otherwise be mutually acceptable to you and to Franchisor. Franchisor will approve or reject your site within thirty (30) days of receiving your application and all required information. Franchisor may assist you in site selection, in its sole discretion, which assistance may include making available to you the services of an internal development management team or a designated third party tenant representative consulting firm. If required, you must use the services of a designated tenant representative consulting firm and pay any fees imposed by the firm. Although Franchisor or its tenant representative may propose sites for your consideration, you understand that ultimate site selection is solely your choice and your responsibility. If an acceptable site is not found by the Franchisee and approved by the Franchisor within ninety (90) days of the Effective Date, then Franchisor reserves the right to terminate this Agreement.
Source: Item 23 — RECEIPT (FDD pages 68–302)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, the Franchise Agreement becomes effective as of the "Effective Date." If the location for the Aplus store is not yet identified, it will be described on Attachment 1, called "Key Terms."
Within 30 days after the Effective Date, the franchisee must identify and acquire a site for the Aplus store. The site must meet Aplus's current site selection criteria and be mutually acceptable to both the franchisee and Aplus. Aplus will then approve or reject the site within 30 days of receiving the franchisee's application and all required information.
If an acceptable site is not found and approved within 90 days of the Effective Date, Aplus reserves the right to terminate the Franchise Agreement. This highlights the importance of promptly finding a suitable location after the agreement's effective date to avoid potential termination.