What is the deadline for the transferee to complete improvements to the C3 Wellness Spa facility after a transfer?
C3_Wellness_Spa Franchise · 2024 FDDAnswer from 2024 FDD Document
- (8) Unless Franchisee has met the requirements of Article 7.B. within the five year period immediately preceding the Transfer, the transferee, at its expense, must improve, modify, refurbish, renovate, remodel, and/or otherwise upgrade Franchisee's Spa Facility to conform to the then current standards and specifications of Franchisor, and the transferee must complete such improvements, modifications, refurbishments, renovations, remodeling, and/or upgrading within the time period Franchisor reasonably specifies;
Source: Item 23 — RECEIPTS (FDD pages 59–293)
What This Means (2024 FDD)
According to the 2024 C3 Wellness Spa Franchise Disclosure Document, if a franchisee has not met the requirements of Article 7.B within the five-year period before a transfer, the transferee is responsible for upgrading the spa facility to meet the franchisor's current standards.
The transferee must cover all expenses related to these improvements, modifications, refurbishments, renovations, remodeling, and/or upgrades. The deadline for completing these changes is determined by a reasonable timeframe specified by C3 Wellness Spa.
This means that a potential buyer of an existing C3 Wellness Spa franchise needs to be prepared to invest in upgrades to meet current brand standards if the previous owner hasn't already done so recently. The exact timeline for these upgrades will be determined by C3 Wellness Spa during the transfer process.