How much notice will Extreme Art Studio provide before increasing or decreasing the technology fee?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
We reserve the right to: (i) change or add approved suppliers or vendors of these services at any time, in our sole discretion; (ii) enter into a master license agreement with any software or technology supplier and sublicense the software or technology to you, in which case we may charge you for all amounts that we must pay to the licensor based on your use of the software or technology; (iii) create proprietary software or technology that must be used by Extreme Art Studio franchisees, in which case we may require that you enter into a license agreement with us and pay us reasonable initial and ongoing licensing, support and maintenance fees; and (iv) increase or decrease the technology fee and other technology and licensing and expenses that you are required to pay under this Franchise Agreement at any time, upon 30 days' written notice to you.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, Extreme Art Studio will provide franchisees with 30 days' written notice before increasing or decreasing the technology fee.
This means that if Extreme Art Studio decides to change the monthly technology fee, franchisees will receive a written notification at least one month in advance. This allows franchisees time to adjust their budgets and business plans accordingly. The technology fee covers the use of online systems, website, applications, email, data sharing, learning management software, search engine optimization, and other internet-related functions.
It is important for prospective franchisees to understand that Extreme Art Studio reserves the right to change the technology fee. Franchisees should factor in potential future increases to the technology fee when assessing the overall cost of operating an Extreme Art Studio franchise. Franchisees are also responsible for any fee increases resulting from upgrades, modifications, or additional systems or software, as well as increases from third-party vendors.