What 'OPENING REQUIREMENTS' are outlined in the Extreme Art Studio Franchise Agreement, and on what page can they be found?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| (Entity Name) | (Signature) | | Sign: | (Print Name) | | Name: | DATED: | | Title: | | | DATED: | |
ATTACHMENT B
TO THE FRANCHISE AGREEMENT
APPROVED LOCATION AND TERRITORY FOR FRANCHISEE'S INITIAL EXTREME ART STUDIO BUSINESS
All capitalized terms not otherwise defined in this Attachment shall have the meaning ascribed to it in the Franchise Agreement to which it is attached.
| Extreme Art Studio Business – If a particular site has not been selected and approved at the time of signing the Franchise Agreement, we have described the location in general terms below ("General Description"). The General Description does not confer any territory rights to you and is only used for a reference. We may sell other franchised locations in the area in this General | |
|---|---|
| Description. The General Description is: | |
| Once you have received approval of the site location for the initial Extreme Art Studio Business | |
| that satisfies the demographics and location requirements minimally necessary for an Extreme | |
| Art Studio Business and that meets our minimum current standards and specifications for the | |
| build out, interior design, layout, floor plan, signs, designs, color and décor, we will complete | |
| Attachment B-1 attached hereto, to specify the Approved Location for your initial Extreme Art | |
| Studio Business as provided in Section 1.4 of the Agreement. | |
| 2. | Territory: |
| Once you and we have mutually agreed upon a Territory for the initial Extreme Art Studio | |
| Business in conformance with the territory guidelines stated in Item 12 of the Franchise | |
| Disclosure Document, we will complete Attachment B-1 to specify the Territory. |
(Signature page follows)
IN WITNESS WHEREOF, the parties have executed and delivered Attachment B to the Franchise Agreement, to be effective as of the Effective Date of the Franchise Agreement.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, the franchisee is responsible for selecting the site for their Extreme Art Studio business. Extreme Art Studio will provide assistance with site selection, evaluation, lease review, and construction project management, as detailed in the Franchise Operations Manual. The franchisee cannot lease or purchase a site until Extreme Art Studio has given written approval.
Extreme Art Studio provides mandatory and suggested criteria for studio locations and may inspect potential sites before granting approval. However, the FDD states that Extreme Art Studio's approval is solely a determination that the site meets their current criteria and does not constitute a warranty of the site's suitability. The franchisee is responsible for their own independent investigation into the site's suitability.
The FDD also mentions that once Extreme Art Studio approves the site location, which must meet demographic and location requirements, as well as standards for build-out, interior design, layout, and signage, they will complete Attachment B-1 (or E-1 in another section) to specify the approved location, as stated in Section 1.4 of the agreement. The FDD also states that once the franchisee and Extreme Art Studio have mutually agreed upon a territory, as per the guidelines in Item 12 of the FDD, they will complete Attachment B-1 (or E-1) to specify the territory.