What is Attachment B-1 in relation to the Extreme Art Studio franchise agreement?

According to the 2024 Extreme Art Studio Franchise Disclosure Document, Attachment B-1 is used to specify the address of the approved location for an Extreme Art Studio Business. Initially, when the franchise agreement is signed, Attachment B may describe the approved location in general terms if a specific location hasn't been selected yet. Once a location is approved, Extreme Art Studio will complete Attachment B-1 (or their then-current form of Attachment E-1) to detail the exact address. This location then automatically becomes the official Approved Location for the Extreme Art Studio Business, as if it were originally included in Attachment B.

This process ensures that both Extreme Art Studio and the franchisee agree on the specific location before it becomes the official site of the business. This is important because the location must meet Extreme Art Studio's standards for demographics, layout, and design. The franchisee is responsible for selecting the location and negotiating the lease, but Extreme Art Studio has the final say in approving it.

It's important to note that the franchisee isn't guaranteed any specific location and might not get their first choice. The franchise agreement can be terminated if an approved location isn't agreed upon within four months of signing the agreement. This highlights the importance of actively searching for and securing a suitable location in a timely manner to avoid potential termination of the franchise agreement.