If the Degree Wellness franchise was purchased pursuant to a development agreement, what is the 'Development Agreement'?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
This Development Agreement ("Agreement") made effective as of ("Effective Date") by and between Degree Wellness Franchise, LLC, a Delaware limited liability company with a business address at 200 Riverside Ave., Jacksonville, FL 32202 (the "Franchisor", "we", or "us",); and, a (resident of) (corporation organized in) (limited liability company organized (the "Developer", "you" or "your"). in) with a business address at
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, the Development Agreement is an agreement made effective as of a certain date between Degree Wellness Franchise, LLC, identified as the Franchisor, and the Developer. This agreement outlines the terms and conditions under which the Developer is granted the rights to develop multiple Degree Wellness studios within a specific area.
The Development Agreement specifies the geographic boundaries of the Site Selection Area and includes a Development Schedule. The Development Schedule dictates the number of new Degree Wellness Studios that must be opened within defined periods, specifying the cumulative number of studios that should be operational by certain milestones, such as 12, 24, and 36 months from the effective date of the agreement. This schedule ensures that the developer meets the franchisor's expectations for expansion and market penetration.
The document emphasizes that the Development Agreement contains the entire understanding between the parties regarding the developer's rights within the Site Selection Area. It also states that no promises, inducements, or representations not included in the agreement are binding, except for those in the Franchise Disclosure Document. Any modifications to the agreement must be in writing and signed by both parties. In case of conflicts between the Development Agreement and any Franchise Agreements, the terms of the Development Agreement will prevail.