What is the typical term length of successive Deck Medic franchise agreements?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
d by Franchisor in accordance with the terms of this Agreement; and
- (6) The foregoing rights granted in this Article 2.A. are subject to and contingent upon each and every, term and condition of this Agreement, the rights of any prior user, and are non-exclusive and subordinate to the Reserved Rights.
2.B. TERM
Unless sooner terminated pursuant to the terms of this Agreement, the term of this Agreement will be for a period of 10 consecutive years, commencing from the Effective Date (the "Term").
2.C. GUARANTY, CONFIDENTIALITY AND RESTRICTIVE COVENANTS
If Franchisee is, at any time, a Corporate Entity, Franchisee agrees that each Owner and their respective Spouse shall execute, sign and deliver to Franchisor the Franchise Owner and Spouse Agreement and Guaranty attached to this Agreement as Exhibit 1 and, in doing so, among other things, will individually, jointly, and severally, guarantee Franchisee's obligations under this Agreement and personally bind themselves to confidentiality and non-competition covenants and restrictions.
**2.D.
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the initial term of the franchise agreement is 10 years, commencing from the effective date. Franchisees may have the option to renew for an additional 10-year period, known as the Renewal Term, provided they meet certain conditions and pay a Renewal Fee of $3,500.
To exercise the renewal option, a Deck Medic franchisee must adhere to the terms and conditions outlined in the franchise agreement. This includes delivering a signed copy of the then-current form of the franchise agreement for the renewal term to Deck Medic within 30 days of receiving it from the franchisor.
It is important for prospective Deck Medic franchisees to understand the initial term and renewal options, as these define the length of their business operation under the Deck Medic brand. Franchisees should carefully review the conditions for renewal to ensure they can meet them when the time comes, securing their right to continue operating their Deck Medic business.