What mandatory lease provisions does Extreme Art Studio require for its protection?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
You must obtain our prior written approval of your Studio lease. Your Studio lease must meet our lease approval criteria, including certain mandatory lease provisions that we require for our protection. If you fail to enter into a lease for your Extreme Art Studio Business within six months after signing the Franchise Agreement, then we have the option to terminate the Franchise Agreement without providing you a refund.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 27–37)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio FDD, franchisees must obtain Extreme Art Studio's prior written approval of their studio lease. The lease must meet Extreme Art Studio's lease approval criteria, including certain mandatory lease provisions that Extreme Art Studio requires for its protection.
Extreme Art Studio also provides assistance with site selection, site evaluation, lease review, and construction project management, as outlined in their Franchise Operations Manual. They will review the lease agreement to ensure it contains the required provisions and meets the minimum standards for an Extreme Art Studio Business.
If a franchisee fails to enter into a lease for their Extreme Art Studio Business within six months after signing the Franchise Agreement, Extreme Art Studio has the option to terminate the Franchise Agreement without providing a refund. Franchisees have the ultimate responsibility in choosing, obtaining, and developing the site for their Studio.