What is the 'Opening Deadline' for a Beem Light Sauna franchise, as specified in the Development Schedule?
Beem_Light_Sauna Franchise · 2025 FDDAnswer from 2025 FDD Document
different fees (though no Franchise Fee shall be owed under such agremeent) and territorial rights. You must sign a Franchise Agreement for a Studio before you may execute a lease, sublease, or purchase agreement intended for such Studio or commence construction of such Studio. We will not be obligated to offer you a Franchise Agreement for a Studio unless:
- 1. we have complied with all applicable franchise registration and disclosure laws and, if required by applicable laws, have provided you with a copy of our then-current Franchise Disclosure Document; and
- 2. you and any Affiliated Entities have fully complied with any Franchise Agreements that are in effect.
- 3.2 Deadlines. You must enter into Franchise Agreements and develop and open Studios in accordance with the deadlines set forth in the Development Schedule. Signing Deadline. By each "Signing Deadline" specified in the Development Schedule, you must have signed our then-current standard form of Franchise Agreement for the applicable number of Studios in the Development Area specified on the Development Schedule. Opening Deadline. By each "Opening Deadline" specified in the Development Schedule, you must have the applicable number of Studios in the Development Area open and operating. Discretionary Extension. We may, in our sole discretion, extend any Signing Deadline or any Opening Deadline, which we may condition on your payment of an Extension Fee and execution of a general release.
Source: Item 23 — RECEIPT (FDD pages 71–230)
What This Means (2025 FDD)
According to the 2025 Beem Light Sauna FDD, if a franchisee enters into a Development Agreement, they must open Beem Light Sauna studios by the 'Opening Deadline' outlined in the Development Schedule. The Development Schedule contains specific deadlines for signing franchise agreements ('Signing Deadline') and opening studios ('Opening Deadline').
Beem Light Sauna may, at its discretion, extend either the Signing Deadline or the Opening Deadline. However, this extension is conditional. Beem Light Sauna may require the franchisee to pay an 'Extension Fee' and execute a general release. The Extension Fee is $2,500 per month (or any portion of a month) for each studio that the deadline is extended.
If a Beem Light Sauna studio is destroyed or damaged due to circumstances beyond the franchisee's control, the franchisee must promptly notify Beem Light Sauna of the event. Failure to meet the Opening Deadline can result in an event of default under the Development Agreement, potentially leading to termination of the agreement.