What is the definition of 'Territory' for a Crown Gold Exchange franchise?

According to the 2024 Crown Gold Exchange Franchise Disclosure Document, the 'Territory' is defined as the territory stated on the Location Acceptance Letter. The Location Acceptance Letter is issued when Crown Gold Franchising accepts the franchisee's proposed location. This letter specifies both the Location and the Territory granted to the franchisee.

Crown Gold Franchising determines the Territory in its good faith discretion, substantially in accordance with Item 12 of the Franchise Disclosure Document. However, if Crown Gold Franchising fails to state the Territory in writing within 60 days after the franchisee opens the business to the public, the Territory will default to the zip code which includes the location of the franchised business and the zip codes which immediately surround the location and together comprise a total of 50,000 population.

Crown Gold Franchising retains the right to establish and license others to establish and operate Crown Gold Exchange businesses outside the Territory, regardless of their proximity to the Territory or their impact on the franchisee's business. They also reserve the right to operate and license businesses anywhere that do not operate under the Crown Gold Exchange brand name and sell and license others to sell products and services in the Territory through other channels of distribution, including the internet, that are not Crown Gold Exchange outlets. This means that while franchisees have a protected territory, Crown Gold Exchange can still operate or franchise other businesses nearby or sell products online, which could potentially compete with the franchisee's business.