Where can I find information about Cinch I.T.'s 'Managed Services' in the FDD?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
If You do not sell one new managed service provider ("Managed Service Provider") contract for three (3) consecutive months, We will require You to undertake and complete a performance improvement plan ("Performance Improvement Plan") over a consecutive three (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 (1) hour increments at Our then current rate as specified in subsection 13 (e) under remedial training for each accountability conference.
If after completion of the Performance Improvement Plan You do not sell one (1) new Managed Service Provider contract within three (3) months, You will be in default of Your Franchise Agreement and We may terminate the Franchise Agreement.
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, Item 23 discusses the franchisee's obligations regarding the sale of managed service provider contracts. Specifically, it states that if a franchisee does not sell one new managed service provider contract for three consecutive months, Cinch I.T. will require the franchisee to undertake and complete a performance improvement plan 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. The franchisee must also attend a weekly accountability telephone conference to review the assigned metrics and results. Cinch I.T. will charge the franchisee in one-hour increments at their then-current rate as specified in subsection 13(e) under remedial training for each accountability conference.
If, after completion of the performance improvement plan, the franchisee does not sell one new Managed Service Provider contract within three months, the franchisee will be in default of their Franchise Agreement, and Cinch I.T. may terminate the Franchise Agreement. This clause highlights the importance Cinch I.T. places on franchisees actively acquiring managed service contracts and the potential consequences of failing to meet this expectation.