What constitutes a default of the Crawlspace Medic Franchise Agreement regarding the opening of the Franchised Business?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
ranchise Agreement, Section 8.2)
2. Time to Open
We estimate the typical length of time between the signing of the Franchise Agreement and the time you open your Crawlspace Medic franchised business is 45 to 60 days. Factors that may affect this time period include your ability to acquire financing or permits; warehouse and office build build-out; vehicle modifications, and completion of required training. If you have not opened your Franchised Business within three months after you
sign the Franchise Agreement, you must obtain our consent to extend the time to open, which we may or may not grant, at our discretion. Failure to open your Franchised Business within the original time as extended, is a default of the Franchise Agreement.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 23–29)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, failure to open the Franchised Business within the specified timeframe constitutes a default of the Franchise Agreement. The typical timeframe to open a Crawlspace Medic franchised business is estimated to be 45 to 60 days from signing the Franchise Agreement. However, this period can be affected by factors such as securing financing or permits, completing warehouse and office build-outs, modifying vehicles, and finishing required training.
If a franchisee does not open their Crawlspace Medic business within three months after signing the Franchise Agreement, they must obtain consent from Crawlspace Medic to extend the opening date. Crawlspace Medic has the discretion to grant or deny this extension.
Failing to open the Franchised Business within the original timeframe, or any approved extension, is considered a default of the Franchise Agreement. This means Crawlspace Medic could take action against the franchisee, potentially including termination of the agreement.