What is the 'Signing Deadline' for Body20 studios as specified in the Development Schedule?
Body20 Franchise · 2025 FDDAnswer from 2025 FDD Document
fferent terms than the Initial Franchise Agreement, including 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 74–251)
What This Means (2025 FDD)
According to the 2025 Body20 Franchise Disclosure Document, the 'Signing Deadline' refers to the date by which a franchisee must sign the franchise agreement for a Body20 studio, as outlined in the Development Schedule. The Development Schedule specifies deadlines for signing franchise agreements and opening studios within a designated development area.
For each studio a franchisee plans to develop, they must sign Body20's standard franchise agreement by the specified 'Signing Deadline.' Failing to meet this deadline can result in an event of default under the development agreement. However, Body20 may, at its discretion, extend the Signing Deadline, possibly requiring the franchisee to pay an Extension Fee of $2,500 per month (or portion thereof) and execute a general release.
If the franchisee is unable to execute a Franchise Agreement by the Signing Deadline because Body20 is unable to timely deliver a required Franchise Disclosure Document, Body20 will adjust such Signing Deadline and Opening Deadline for the applicable Studio to take into consideration the date on which they were able to provide the Franchise Disclosure Document, without requiring payment of an Extension Fee or the execution of a general release.
The Development Agreement expires at midnight on the earlier of (i) the last Opening Deadline date listed on the Development Schedule, or (ii) the opening of the last Studio to be developed pursuant to the Development Schedule.