Where can I find the form of the Location Acceptance Letter for a Crown Gold Exchange franchise?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
- (ii) When Crown Gold Franchising accepts the Location, it will issue a Location Acceptance Letter in the form of Attachment 2 which states the Location and Territory. Crown Gold Franchising shall determine the Territory in its good faith discretion, substantially in accordance with Item 12 of the Franchise Disclosure Document. If Crown Gold Franchising fails to state the Territory in writing within 60 days after Franchisee opens the Business to the public, the Territory will be deemed to be 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.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the form of the Location Acceptance Letter can be found as Attachment 2. This letter is issued by Crown Gold Franchising once they accept the franchisee's proposed location. The Location Acceptance Letter specifies both the location and the territory granted to the franchisee.
The document outlines the process for determining the location and territory. The franchisee is responsible for finding a potential location within the designated development area and submitting it to Crown Gold Franchising for approval. Crown Gold Franchising has 30 days to either accept or reject the proposed location in writing. If no response is received within 30 days, the location is considered rejected.
The territory is determined by Crown Gold Franchising in its good faith discretion, generally following the guidelines in Item 12 of the Franchise Disclosure Document. If the territory is not defined in writing within 60 days after the business opens, the territory will default to the zip code containing the franchised business and the surrounding zip codes, encompassing a total population of 50,000.