Does the Craters & Freighters Franchise Agreement specify the process for adding a successor term?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
| Item | Provision | Section in Franchise Agreement | Summary |
|---|---|---|---|
| a. | Length of the franchise term | Section 2.1 | Term is 15 years. |
| b. | Renewal or extension of the term | Section 2.2 | You can add a successor term of 15 years. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTIONS (FDD pages 36–44)
What This Means (2025 FDD)
According to the 2025 Craters & Freighters Franchise Disclosure Document, the franchise agreement does address the possibility of a successor term. Specifically, Item 17 outlines the terms for renewal or extension of the franchise term.
The FDD indicates that a franchisee can add a successor term of 15 years to their existing agreement. This provides an opportunity for franchisees to continue operating their Craters & Freighters business beyond the initial term, offering long-term stability and potential for continued growth.
While the FDD confirms the option for a successor term, it does not detail the specific conditions or procedures a franchisee must follow to obtain this extension. A prospective franchisee should inquire with Craters & Freighters about the requirements for applying for and securing a successor term, including any associated fees, performance criteria, or other obligations.