Under what conditions can an Apricot Lane franchisee renew or extend the franchise term?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
| PROVISION | SECTION IN FRANCHISE AGREEMENT | SUMMARY |
|---|---|---|
| a. Length of the franchise | Section 3.A in the | Term is 10 years beginning on the first day of |
| term | Franchise Agreement | the lease term for the premises. |
| b. Renewal or extension of | Section 3.B in | If you are in good standing, you can renew for |
| the term | Franchise Agreement | 2 additional successive terms of 5 years each. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 35–39)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the initial franchise term is 10 years, beginning on the first day of the lease term for the premises. Franchisees have the option to renew their franchise agreement if they are in good standing with Apricot Lane.
If an Apricot Lane franchisee is in good standing, they can renew the franchise for two additional, successive terms of 5 years each. This means that after the initial 10-year term, a franchisee could potentially operate their Apricot Lane store for an additional 10 years through these renewals.
It is important for prospective franchisees to understand what constitutes "good standing" as defined by Apricot Lane. This will likely involve meeting certain performance metrics, adhering to brand standards, and fulfilling all financial obligations to the franchisor. Franchisees should carefully review Section 3.B in the Franchise Agreement to fully understand the renewal terms and conditions.