What is the standard initial franchise term length for a Burros Fries franchise?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
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7. TERM AND RENEWAL OF AGREEMENT
A. Term
The Franchise herein granted for a Burros & Fries Business, shall be for a term of ten (10) years from the date of execution and acceptance (the "Effective Date") of this Agreement by us and subject to earlier termination as herein provided. We reserve the right, with your approval, to change the term to match the premise's lease.
B. Renewal
Franchisee shall have the option to renew this Agreement for up to two (2) additional terms of ten (10) years each, provided we are still offering franchises at that time, and further subject to the following conditions, all of which must be met prior to renewal:
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- Franchisee shall give us written notice of its election to renew not more that twelve (12) months and not less than six (6) months prior to the end of the then current term. We will respond to Franchisee's written notice to renew no later than thirty (30) days after receipt of such notice by email or any other form of written communication;
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Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, the initial franchise term is ten years from the date the franchise agreement is executed and accepted. Burros Fries does, however, reserve the right to change the term length to match the premise's lease with the franchisee's approval.
After the initial term, a franchisee has the option to renew the agreement for up to two additional terms, each lasting ten years. To be eligible for renewal, Burros Fries must still be offering franchises at the time of renewal, and the franchisee must meet specific conditions.
These conditions include providing written notice of the election to renew within a specific timeframe (not more than 12 months and not less than 6 months before the current term ends). Additionally, the franchisee must not be in default under any agreement with Burros Fries and must have complied with all terms and conditions of all agreements during their terms.