For how many additional years can a Deck Medic franchisee renew their franchise term?
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 franchise agreement has an initial term of 10 years. If a franchisee meets Deck Medic's conditions for renewal, they can renew the franchise for one additional term of 10 years.
To renew the franchise agreement, the franchisee must comply with the terms of the existing Franchise Agreement. They must also provide Deck Medic with written notice of their request to renew at least 180 days before the current term expires. Additionally, the franchisee needs to sign the then-current form of the Franchise Agreement and related agreements for the renewal term and sign a general release in Deck Medic's favor.
The franchisee must also pay a renewal fee and meet all other renewal requirements outlined in the Franchise Agreement. The owners of the franchise must also be in compliance with their agreements with Deck Medic. Meeting these conditions allows a Deck Medic franchisee to potentially extend their business operations for another decade, providing long-term stability if the business is successful and the franchisee maintains a good relationship with the franchisor.