What are the consequences if I fail to open my Basecamp Fitness studio by the Required Opening Date?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Unless
we otherwise approve, you must open your Basecamp Studio on or before the Required Opening Date on the Rider to the Franchise Agreement, but in no event more than 12 months from the date the Franchise Agreement becomes effective. Your failure to open your Basecamp Studio on or before the Required Opening Date will constitute a default of your Franchise Agreement and allow us to terminate your Franchise Agreement and retain all amounts you have paid to us and our affiliates.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 35–45)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, franchisees must open their studio on or before the Required Opening Date, which is specified on the Rider to the Franchise Agreement. However, this date cannot be more than 12 months from when the Franchise Agreement becomes effective.
If a franchisee fails to open their Basecamp Fitness studio by this Required Opening Date, it will constitute a default of the Franchise Agreement. This gives Basecamp Fitness the right to terminate the Franchise Agreement.
In the event of termination due to failure to open on time, Basecamp Fitness is entitled to retain all amounts that the franchisee has already paid to them and their affiliates. This could include the initial franchise fee and other pre-opening costs. This represents a significant financial risk for franchisees who are unable to meet the opening deadline, as they could lose their investment and the right to operate a Basecamp Fitness studio.