What is the 'Data Sheet' and where can it be found in the Circle K Franchise Agreement?
Circle_K Franchise · 2025 FDDAnswer from 2025 FDD Document
the capitalized terms used in this Agreement shall have the definitions set forth in Schedule 1 attached hereto.
ARTICLE 2 GRANT OF LICENSE
2.1 Non-Exclusive License; Franchised Location; Store Opening. Subject to the terms and conditions herein, Franchisor hereby grants to Franchisee, and Franchisee hereby accepts, a non-exclusive license to establish and operate, during the Term, a Circle K Store, in conformity with the Business System, using the Marks (the "License"), at the location described in the Data Sheet attached hereto as Exhibit 1 (the "Franchised Location"). Franchisee agrees that the Store shall be constructed in accordance with the requirements of this Agreement and should be ready
to open within: (i) 1 year after the Effective Date, if the Store is a Conversion Store; or (ii) 2 years after the Effective Date, if the Store is a New Store. A failure to open a Conversion Store within one year or a New Store within two years will entitle Franchisor to immediately terminate this Agreement without Franchisor incurring any liability for such termination.
Source: Item 22 — CONTRACTS (FDD page 100)
What This Means (2025 FDD)
According to Circle K's 2025 Franchise Disclosure Document, the Data Sheet contains the location where the franchisee will operate their Circle K store. The Data Sheet is included as Exhibit 1 to the Franchise Agreement. The agreement grants the franchisee a non-exclusive license to operate a Circle K store at the location described in the Data Sheet.
The Franchise Agreement specifies timeframes for opening the store, depending on whether it is a Conversion Store (an existing convenience store being converted to a Circle K) or a New Store. A Conversion Store should be ready to open within one year of the Effective Date (the date the agreement is executed by Circle K), while a New Store has two years. Failure to meet these deadlines allows Circle K to terminate the agreement, with the franchisee responsible for post-termination obligations, including liquidated damages.
Prospective franchisees should carefully review the Data Sheet to confirm the exact location and ensure it aligns with their expectations. They should also understand the implications of failing to meet the store opening deadlines, including potential termination of the agreement and associated financial penalties. Understanding these details is crucial for making an informed decision about investing in a Circle K franchise.