What is the deadline for a Byrider franchisee to provide written notice to rescind the agreement and receive a refund of the initial franchise fee?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
it is advisable for the Company and/or the Franchisee to modify or discontinue the use of any of the Marks, and/or use one or more additional or substitute Marks then, upon notice from the Company, the Franchisee, at its expense, will immediately make such changes and amendments to the Marks and all materials on which the Marks are displayed as may be required by the Company.
ARTICLE IX
FEES
- 9.1 Initial Franchise Fee. The Franchisee
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, a franchisee has a limited time to rescind the franchise agreement and receive a refund of the initial franchise fee. To receive a refund of the $60,000 initial franchise fee, Byrider must receive written notice from the franchisee expressing their desire to rescind the agreement within 60 days after the agreement has been executed.
This 60-day window is a critical period for new franchisees. It allows them to reconsider their decision after signing the agreement, potentially due to unforeseen circumstances or a change of heart. Missing this deadline means forfeiting the initial franchise fee, which is a significant financial loss.
It is important to note that this rescission right and refund are only applicable if the written notice is received within the specified 60-day period. After this period, the initial franchise fee becomes nonrefundable, regardless of the circumstances. Prospective franchisees should carefully consider this deadline and ensure they understand the terms of the franchise agreement before and after signing.