What are the requirements for a Deck Medic franchisee to renew their franchise agreement?
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. A franchisee can renew the franchise for one additional term of 10 years, bringing the maximum total term to 20 years.
To renew the Deck Medic franchise, the franchisee must be in compliance with the terms of the existing 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. Additionally, the franchisee needs to sign the then-current form of the Franchise Agreement and any related agreements for the renewal term, as well as sign a general release in favor of Deck Medic.
Furthermore, the franchisee must pay a renewal fee and meet all other renewal requirements outlined in the Franchise Agreement. The franchisee's Owners must also be in compliance with their agreements with Deck Medic. This ensures that all parties involved are committed to upholding the standards and obligations of the franchise system during the renewal term.