Who is the franchisor of Cost Cutters Family Hair Salon, as indicated in the receipt?
Cost_Cutters_Family_Hair_Salon Franchise · 2024 FDDAnswer from 2024 FDD Document
WHEREAS, The parties hereto acknowledge and agree that Tenant is a party to a "Cost Cutters" hair salon franchise agreement (the "Franchise Agreement") with The Barbers, Hairstyling for Men & Women, Inc., a Minnesota corporation with its principal place of business at 3701 Wayzata Boulevard, Suite 500, Minneapolis, Minnesota 55416 (the "Franchisor"). Pursuant to the Franchise Agreement, Tenant agreed to cause the provisions contained in this Addendum to be made a part of the lease agreement between Tenant and Landlord, a copy of which is attached hereto and incorporated herein by reference (the "Lease").
Source: Item 23 — RECEIPT (FDD pages 76–439)
What This Means (2024 FDD)
According to the 2024 Cost Cutters Family Hair Salon Franchise Disclosure Document, the franchisor is The Barbers, Hairstyling for Men & Women, Inc., a Minnesota corporation. Their principal place of business is located at 3701 Wayzata Boulevard, Suite 500, Minneapolis, Minnesota 55416.
This information is disclosed within the context of a lease agreement addendum, where the tenant (franchisee) acknowledges their franchise agreement with The Barbers, Hairstyling for Men & Women, Inc. The addendum ensures that specific provisions are incorporated into the lease agreement between the tenant and the landlord. This arrangement is designed to protect the franchisor's interests and ensure compliance with the franchise agreement terms.
Prospective franchisees should note the importance of understanding the relationship between the franchisor, the franchisee, and any lease agreements. This addendum highlights the legal obligations and agreements that franchisees must adhere to, including ensuring that lease terms align with the franchise agreement. It also emphasizes the franchisee's responsibility to incorporate the addendum into their lease agreement.