Under what conditions might Bor Restoration extend the Opening Date for a franchisee?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisees typically open for business within 30 to 60 days after the Franchise Agreement is signed by you and us (Effective Date). In all events, you must open within 60 days of the date you sign the Franchise Agreement (Opening Date). 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 it, and you request an extension of time from us. The factors that affect the Business's opening may include the ability to obtain financing, permits, and licensing. Before the Opening Date, you must secure all necessary permits and licenses, purchase or lease, and have installed all of the equipment we require. You must also have obtained the required insurance and provided us evidence of the same.
Source: Item 11 — (FDD pages 22–28)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, franchisees are generally expected to open their business within 60 days of signing the Franchise Agreement. However, Bor Restoration may grant an extension to this Opening Date under specific circumstances.
Specifically, Bor Restoration may extend the Opening Date for a reasonable period, up to a maximum of 20 days, if factors beyond the franchisee's control prevent them from meeting the original deadline. To be eligible for this extension, the franchisee must request it from Bor Restoration.
Examples of factors that could warrant an extension include difficulties in obtaining financing, securing necessary permits, or acquiring required licenses. It's important to note that the franchisee bears the responsibility for securing all necessary permits and licenses, purchasing or leasing and installing all required equipment, and obtaining the necessary insurance coverage before the Opening Date. Therefore, franchisees should proactively manage these tasks to minimize the risk of delays and the need for an extension.