What is the duration of the performance improvement plan required by Cinch I.T.?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
If you do not sell one new managed service provider ("Managed Service Provider" or "MSP") contract for 3 consecutive months, we will require you to undertake and complete a performance improvement plan ("Plan") over a consecutive 3 month period. The Performance Improvement Plan consists of a list of activity metrics assigned by us that must be performed by you each week. You must also attend a weekly accountability telephone conference to review the assigned metrics and your results. You will be charged in one hour increments at our then-current rate for remedial training for each accountability conference. If after completion of the Plan you do not sell one new MSP contract within 3 months, you will be in default of your Franchise Agreement and we may we may terminate the Franchise Agreement.
Source: Item 12 — TERRITORY (FDD pages 39–43)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, if a franchisee does not sell one new managed service provider (MSP) contract for three consecutive months, Cinch I.T. will require the franchisee to undertake and complete a performance improvement plan. This plan will occur over a consecutive three-month period.
The performance improvement plan consists of a list of activity metrics assigned by Cinch I.T. that the franchisee must perform each week. Additionally, the franchisee must attend a weekly accountability telephone conference to review the assigned metrics and their results. The franchisee will be charged in one-hour increments at Cinch I.T.'s then-current rate for remedial training for each accountability conference.
If, after completion of the three-month performance improvement plan, the franchisee still does not sell one new MSP contract within three months, the franchisee will be in default of their Franchise Agreement. At that point, Cinch I.T. may terminate the Franchise Agreement.