What market rights were assigned to Crawlspace Medic on December 14, 2022?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
On December 14, 2022, the Company was assigned the rights territory to operate the St. Louis market. As part of the assignment, the operator turned over all assets of the market. Upon assumption of the territory, the Company intends to convert the operation of the market to Crawl Space Medic Holdings, LLC, and whom will in term enter into an agreement to pay the operator for the location and assets.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, on December 14, 2022, Crawlspace Medic was assigned the rights to operate in the St. Louis market. As part of this assignment, the previous operator transferred all assets of the market to Crawlspace Medic.
Following the assignment, Crawlspace Medic intended to convert the market's operation to Crawl Space Medic Holdings, LLC. This entity would then enter into an agreement to compensate the previous operator for the location and assets.
This indicates a strategic move by Crawlspace Medic to consolidate and manage operations in the St. Louis market directly, initially through Crawl Space Medic Holdings, LLC. Prospective franchisees should inquire about the performance of this corporate-run location and how it impacts franchise operations and support.