What is the date associated with the original Degree Wellness Franchise Agreement?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
- 1 Term; Reference to Exhibit 1. You have applied for a franchise to own and operate a Degree Wellness Studio, and we have approved your application in reliance on all of the representations you made in that application. As a result, and subject to the provisions of this Agreement, we grant to you
- a Franchise to operate a Studio offering all products, services, and proprietary programs of ours in accordance with all elements of the System, that we may require for Degree Wellness Studios.
You must operate the Franchise at a mutually agreeable site (the "Premises") to be identified after the signing of this Agreement, and to use the System and the Marks in the operation of that Franchise, for an "Initial Term" of 10 years.
The Initial Term will begin on the Agreement Date, unless you are assuming the Franchise pursuant to a Transfer, in which case the length of the Initial Term shall be determined by the applicable Transfer Agreement.
To avoid uncertainty, the expiration date of the Initial Term is listed on Exhibit 1.
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
The 2025 Degree Wellness Franchise Disclosure Document (FDD) refers to the "Agreement Date" which marks the beginning of the Initial Term for a franchise. While the FDD mentions that amendments to the franchise agreement are dated, it does not provide the specific date of the original Degree Wellness Franchise Agreement itself.
Section 2.1 of the FDD states that the Initial Term of 10 years begins on the Agreement Date. The expiration date of this initial term is listed on Exhibit 1. This date is significant because it defines the period during which the franchisee is obligated to operate the franchise and adhere to the terms of the agreement.
Several amendments to the Development Agreement and Franchise Agreement are mentioned, and these amendments have their own dates. However, these dates refer to the amendments themselves and not the original agreement. For example, the South Dakota Amendment to the Franchise Agreement is dated, but the specific date is not provided in this excerpt. Similarly, the Washington Addendum to the Franchise Agreement is mentioned without a specific date.
To determine the original date of the Degree Wellness Franchise Agreement, a prospective franchisee should review Exhibit 1 of the FDD or ask the franchisor directly for clarification. This date is crucial for understanding the full term of the franchise agreement and the franchisee's obligations.