What is the 'Signing 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. The "Extension Fee" for each Studio will be $2,500 per month (or portion of a month) that the Signing Deadline or Opening Deadline for such Studio is extended. Any extension that we grant you (or your Affiliated Entity) will apply only to the Studios for which you (or your Affiliated Entity) obtained the extension and will not extend, delay, or otherwise impact any other deadline under the Development Schedule. Disclosure Extension.
Source: Item 23 — RECEIPT (FDD pages 71–230)
What This Means (2025 FDD)
According to the 2025 Beem Light Sauna FDD, the Development Schedule specifies deadlines for franchisees to sign Franchise Agreements and open Studios. The 'Signing Deadline' requires franchisees to sign the then-current standard Franchise Agreement for the number of Studios in the Development Area, as outlined in the Development Schedule. Franchisees must also meet the 'Opening Deadline' by having the specified number of Studios open and operating within the Development Area.
Beem Light Sauna may, at its discretion, extend either the Signing Deadline or the Opening Deadline. However, this extension may be conditional, requiring the franchisee to pay an Extension Fee of $2,500 per month (or any portion thereof) for each Studio and execute a general release. Any extension granted applies only to the specific Studios for which it was obtained and does not affect other deadlines in the Development Schedule.
If Beem Light Sauna is unable to provide a Franchise Disclosure Document in a timely manner, causing a delay in the franchisee's ability to execute the Franchise Agreement by the Signing Deadline, the deadline will be adjusted to account for the delay. This adjustment will not require the franchisee to pay an Extension Fee or execute a general release. Franchisees should carefully review the Development Schedule in their agreement and understand the implications of missing deadlines and the conditions under which extensions may be granted.