What is the definition of 'Premises' in the context of the Degree Wellness franchise agreement?

According to Degree Wellness's 2025 Franchise Disclosure Document, the 'Premises' refers to the physical location of the Degree Wellness Studio. The franchisor must approve this site, and if the location is leased, Degree Wellness has specific lease terms that must be included in the agreement. The franchisee is granted the right to operate their franchise only at this approved location.

The franchise agreement stipulates that the Premises will be used solely for operating the Degree Wellness Studio during the term of the agreement. Franchisees are obligated to maintain the condition and appearance of both the franchise and the Premises according to Degree Wellness's standards. This includes regular cleaning, repainting, redecorating, and necessary repairs to uphold the brand's image of high-quality service and cleanliness.

Any material alterations to the Premises or its appearance require prior written approval from Degree Wellness. The franchisor retains the right to rectify any unapproved alterations at the franchisee's expense. Degree Wellness also has the authority to specify new equipment or require remodeling, expansion, redecorating, or refurnishing of the Premises to reflect changes in the operations of Degree Wellness franchises, provided certain conditions are met, such as having at least two years remaining on the franchise term and having implemented the changes in a percentage of existing studios.