What monetary obligations must a Card My Yard franchisee satisfy to be eligible for renewal?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
Affiliates; and you and your Affiliates shall have substantially and timely complied with the terms and conditions of such agreements during their respective terms;
- (4) You must have timely satisfied all monetary obligations owed to us and our Affiliates under this Agreement and any other agreeme
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, a franchisee must meet certain monetary obligations to be eligible for renewal. Specifically, the franchisee must have timely satisfied all monetary obligations owed to Card My Yard and its affiliates under the Franchise Agreement or any other agreement. This includes, but is not limited to, royalty payments. Additionally, the franchisee must pay a renewal fee of $3,000.
This requirement ensures that franchisees are in good financial standing with Card My Yard before they are allowed to renew their franchise agreement. Failing to meet these monetary obligations could prevent a franchisee from renewing their agreement, potentially leading to a loss of their business.
In addition to these monetary obligations, Card My Yard requires that franchisees meet other conditions for renewal, such as compliance with the terms of the agreement, upgrading the business to current standards, and executing a general release of claims against the franchisor. Meeting all these requirements is crucial for a Card My Yard franchisee to secure their renewal and continue operating their business under the Card My Yard brand.