When must the Principal Executive complete the Crown Gold Exchange training program?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
- 6.4 New Franchisee Training. Franchisee's Principal Executive must complete Crown Gold Franchising's training program for new franchisees to Crown Gold Franchising's satisfaction at least four weeks before opening the Business.
- 6.5 Conditions to Opening. Franchisee shall notify Crown Gold Franchising at least 30 days before Franchisee intends to open the Business to the public. Before opening, Franchisee must satisfy all of the following conditions: (1) Franchisee is in compliance with this Agreement, (2) Franchisee has obtained all applicable governmental permits and authorizations, (3) the Business conforms to all applicable System Standards, (4) Crown Gold Franchising has inspected and approved the Business, (5) Franchisee has hired sufficient employees, (6) Franchisee's officers and employees have completed all of Crown Gold Franchising's required pre-opening training; and (7) Crown Gold Franchising has given its written approval to open, which will not be unreasonably withheld.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Crown Gold Exchange Franchise Disclosure Document, the Principal Executive must complete the new franchisee training program to Crown Gold Exchange's satisfaction at least four weeks before opening the business.
Crown Gold Exchange also offers pre-opening training to the Principal Executive and up to two other employees at its headquarters or a designated Crown Gold Exchange business. Crown Gold Exchange does not charge a fee for this pre-opening training; however, the franchisee is responsible for covering travel, lodging, meals, and other out-of-pocket expenses for the attendees.
Crown Gold Exchange may also require the Principal Executive and other employees to complete additional training programs at any time, in any format, and at any location determined by Crown Gold Exchange. The franchisee is responsible for all travel, living, and other expenses associated with these post-opening training programs. Crown Gold Exchange may charge a reasonable fee for these additional training programs.