What is the deadline for opening a Bor Restoration franchise after the Effective Date?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
2.1 Opening Date
- a. You must open within 60 days of the Effective Date. (Opening Date). You are required to attend Initial Training before you open. We may extend the Opening Date for a reasonable time (not to exceed 20 days) if factors beyond your reasonable control prevent you from meeting the deadline and you request an extension of time from us.
- b. Before the Opening Date, you must secure all necessary permits and licenses, purchase or lease, and have installed and in operating order all of the equipment required and will have obtained insurance and provided evidence of the same.
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, franchisees must open their business within 60 days of the Effective Date, which is referred to as the "Opening Date." Prior to this opening, franchisees are required to attend initial training.
Bor Restoration may grant an extension to this deadline, but it will not exceed 20 days. This extension is contingent on factors outside the franchisee's control that prevent them from meeting the initial 60-day deadline, and the franchisee must formally request this extension from Bor Restoration.
Before the Opening Date, the franchisee is responsible for securing all necessary permits and licenses, purchasing or leasing and installing all required equipment, and obtaining the necessary insurance coverage. They must also provide evidence of this insurance to Bor Restoration.