How long does Deka Lash grant a temporary protected radius for a proposed location?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
However, upon the submission of a fully executed Letter of Intent ("LOI") to us for a proposed location for the Franchised Business that we have approved, we will create a temporary protected radius around said proposed location within which we will not locate any other Franchised Business.
We will grant this protected radius for a period of up to 60 days to allow you to negotiate and finalize a lease for the proposed location.
While you may have multiple fully executed LOI's, we will only grant a protected radius around one of the proposed locations you designate.
This designation shall be made to us in writing, accompanied by the associated signed LOI, and we have up to 5 business days to accept such designation.
- 3.11 Protective Area Defined. Once the lease for the site is approved by us, fully executed, and submitted to us, we will then define the Franchise Location and associated Protected Area in Section 2 and Section 3 of the Schedule 1 to the Franchise Agreement, which will supersede the temporary protected radius noted above.
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to Deka Lash's 2024 Franchise Disclosure Document, upon submitting a fully executed Letter of Intent (LOI) for a proposed location that Deka Lash approves, Deka Lash will create a temporary protected radius around the proposed location. This temporary protected radius ensures that Deka Lash will not establish another franchised business within that radius.
Deka Lash grants this protected radius for a maximum of 60 days. This timeframe allows the franchisee to negotiate and finalize the lease for the proposed location. While a franchisee may have multiple LOIs in progress, Deka Lash will only grant a protected radius around one designated location at a time.
To initiate this process, the franchisee must provide a written designation, accompanied by the signed LOI, to Deka Lash. Deka Lash then has up to 5 business days to accept the designation. Once the lease is approved by Deka Lash, fully executed, and submitted, the franchise location and associated protected area will be defined in Schedule 1 of the Franchise Agreement, superseding the temporary protected radius.