What is the signing deadline for each Beem Light Sauna studio 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
Source: Item 23 — RECEIPT (FDD pages 71–230)
What This Means (2025 FDD)
According to the 2025 Beem Light Sauna FDD, franchisees must adhere to the signing deadlines outlined in the development schedule. The signing deadline refers to the date by which the franchisee must sign the then-current standard Franchise Agreement for the specified number of studios in the designated development area. These deadlines are crucial for franchisees looking to develop multiple Beem Light Sauna studios. Missing these deadlines can have financial implications.
Beem Light Sauna may, at its discretion, extend any signing deadline. However, this extension may be conditional upon the franchisee paying an Extension Fee of $2,500 per month (or portion thereof) for each studio. Additionally, Beem Light Sauna may require the franchisee to execute a general release. It is important to note that any extension granted applies only to the specific studios for which the extension was obtained and does not affect any other deadlines within the development schedule.
There is an exception to the extension fee. If a franchisee is unable to execute a Franchise Agreement by the signing deadline due to Beem Light Sauna's inability to provide a timely Franchise Disclosure Document, the signing deadline and opening deadline for the applicable studio will be adjusted to account for the delay. In this case, no Extension Fee or general release will be required. This exception protects the franchisee from penalties when delays are due to the franchisor's actions.