What sections of the Degree Wellness Franchise Agreement might affect the 'Opening Deadline'?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
- 15.1 Event of Default. Subject to applicable law, you will be deemed to be in default under this Agreement, and we will have the right to terminate this Agreement effective upon delivery of notice of termination to you, subject only to any right to cure to the extent expressly set forth below or mandated pursuant to applicable law, if:
- a. you do not develop or open the Franchise, or you (or any individuals required to attend) fail to attend and/or successfully complete any required initial training or subsequent mandatory training, in accordance with all terms and conditions (including, without limitation, time limits) provided for in this Agreement;
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, Section 15.1(a) of the Franchise Agreement addresses the opening deadline. It states that a franchisee will be in default if they do not develop or open the franchise according to the terms and conditions of the agreement, including time limits. Failure to meet these conditions gives Degree Wellness the right to terminate the agreement, subject to any applicable cure rights.
This section also specifies that default can occur if the franchisee (or required individuals) fails to attend and/or successfully complete any required initial or subsequent mandatory training. This training is crucial for the franchisee to understand the Degree Wellness system and operate the business effectively. Not completing the training within the specified time limits can also lead to termination of the agreement.
For a prospective Degree Wellness franchisee, this means that adhering to the development schedule and meeting the opening deadline is critical. Franchisees should carefully review the Franchise Agreement to understand all timelines and requirements for opening their franchise. They should also ensure they, and any required personnel, attend and successfully complete all mandatory training programs within the stipulated timeframes to avoid being in default and risking termination of the agreement.