What is the length of the initial franchise term for a Deck Medic franchise?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Provision | Article in | in Summary | |
|---|---|---|---|
| Franchise Agreement | |||
| a. Length of the franchise term | 2.B. | The term of your Franchise Agreement is 10 years. | |
| b. Renewal or extension of the term | 15 | If you meet our conditions for renewal, you may renew your franchise for up to one additional 10 year renewal terms, for a maximum total of 10 years in addition to your initial 10 year term. | |
| c. Requirements for franchisee to renew or extend | 15 | To renew your franchise, you must be in compliance with the terms of your Franchise Agreement, provide us with 180 days prior written notice of your request to renew, sign our then current form of Franchise Agreement and related agreements for the renewal term, sign a general release in our favor, pay a renewal fee, and meet all other renewal requirements contained in the Franchise Agreement. Your Owners must be in compliance with their agreements with |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 34–39)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the initial term of the Franchise Agreement is 10 years. This means that a new franchisee will be granted the right to operate a Deck Medic franchise for a decade, assuming they comply with the terms and conditions outlined in the Franchise Agreement.
After the initial 10-year term, a franchisee has the option to renew the agreement for one additional term of 10 years, bringing the potential total franchise term to 20 years. However, this renewal is contingent upon meeting certain conditions set by Deck Medic.
To renew the franchise agreement, the franchisee must be in compliance with the existing terms of the Franchise Agreement. They must also provide Deck Medic with written notice of their intent to renew at least 180 days before the current term expires. Furthermore, the franchisee will need to sign the then-current version of the Franchise Agreement and related documents, execute a general release in favor of Deck Medic, pay a renewal fee, and fulfill any other renewal requirements specified in the Franchise Agreement. The franchisee's owners must also be in compliance with their agreements with Deck Medic.