Where can I find the expiration date of the initial term for my Degree Wellness franchise?
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)
According to Degree Wellness's 2025 Franchise Disclosure Document, the expiration date of the initial franchise term is found in Exhibit 1 of the franchise agreement. The initial term for a Degree Wellness franchise is 10 years, beginning on the agreement date. However, if the franchise is being assumed through a transfer, the length of the initial term will be determined by the transfer agreement.
It is important for prospective franchisees to review Exhibit 1 carefully to understand the exact expiration date of their franchise term. Knowing this date is crucial for planning the future of the business, including potential renewal options or the eventual sale of the franchise.
Understanding the term length and expiration date is also important in the event of termination. Upon termination or expiration, all rights granted to the franchisee, including the use of Degree Wellness's marks and confidential information, cease. The franchisee also has obligations regarding outstanding payments, the removal of Degree Wellness branding from the premises, and the handling of confidential information.