What is the 'Open Date' in the context of the City Wide Business Development Center Agreement?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee desires to enlist the Services (defined below) of City Wide's Business Development Center for the purpose of assisting in the prospecting and developing of local City Wide clientele. Services will be provided starting as of the date the Franchised Business opens for business ("Open Date" or as otherwise agreed to by the Parties) hereinafter the "Effective Date".
Source: Item 22 — CONTRACTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the 'Open Date' in the context of the Business Development Center Agreement refers to the date the Franchised Business opens for business. This date is significant because the Business Development Center services will commence on this date, or as otherwise agreed upon by both City Wide and the franchisee. This date is also referred to as the 'Effective Date'.
For new City Wide franchisees, the Business Development Center Agreement's term begins on the 'Effective Date' and continues for twelve months, unless terminated earlier according to the agreement's terms. For existing franchisees who wish to engage City Wide for Business Development Center services, the agreement term starts on the date the services begin, also considered the 'Effective Date', and lasts for six months, subject to earlier termination.
Understanding the 'Open Date' is crucial for City Wide franchisees as it marks the commencement of the Business Development Center services aimed at prospecting and developing local clientele. It also dictates the start of the agreement's term, influencing the duration of the services provided and the conditions for renewal or termination. Franchisees should clarify with City Wide any specific conditions or alternative arrangements related to the 'Open Date' to ensure alignment with their business launch plans.