What are the required actions Bor Restoration franchisees must complete before the Opening 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 fulfill specific obligations before their Opening Date, which is defined as within 60 days of the Effective Date. Franchisees are also required to attend Initial Training before they open. However, Bor Restoration may extend the Opening Date for a reasonable time (not to exceed 20 days) if factors beyond the franchisee's control prevent them from meeting the deadline, provided the franchisee requests an extension.
Prior to the Opening Date, Bor Restoration franchisees must secure all necessary permits and licenses required to operate the business. They also need to purchase or lease, and have installed and in operating order, all of the equipment required for the Bor Restoration business.
Furthermore, franchisees must obtain the necessary insurance coverage and provide evidence of such insurance to Bor Restoration before the Opening Date. These requirements ensure that franchisees are legally compliant, properly equipped, and adequately insured before commencing operations, which is a common practice in franchising to protect both the franchisee and the franchisor.