What are the three formats in which an Extreme Art Studio franchised business can be operated?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
or otherwise, based upon any decision or actions of the Operating Owner.
1.4 GRANT AND TERM OF FRANCHISE.
- 1.4.1 Subject to all of the terms and conditions of this Franchise Agreement, we grant you a franchise to operate an Extreme Art Studio Business (1) a single Extreme Art Studio Business ("Single Franchise"); (2) up to two Extreme Art Studio Businesses ("Multi-2"); or (3) up to three Extreme Art Studio Businesses ("Multi-3") (collectively, the Multi-2 and Multi-3 are referred to as "Standard Franchise(s)"). If we grant you a Standard Franchise, you must sign our Multi-Franchise Addendum the form of which is attached to the Franchise Disclosure Document in Exhibit H. Prior to opening the second and each subsequent Extreme Art Studio Business under a Standard Franchise, you and we will execute the then-current form of Extreme Art Rider ("Extreme Art Rider"), the current form of which is attached to this Franchise Agreement in Attachment E but which may vary materially and substantially from the form attached to this Franchise Agreement. If you operate multiple Extreme Art Studio Businesses, each reference to the "Franchised Business" herein shall refer to each individual Extreme Art Studio Business that you operate under this Franchise Agreement, unless otherwise specified. All obligations under this Franchise Agreement shall apply individually to each Extreme Art Studio Business you operate.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, there are three franchise formats available: a single Extreme Art Studio Business, up to two Extreme Art Studio Businesses, or up to three Extreme Art Studio Businesses. The franchise agreement refers to the single studio as a "Single Franchise" and the multi-unit options as "Standard Franchises".
For prospective franchisees, this means they have the option to start with a single location and potentially expand to multiple locations under the same franchise agreement. Those who opt for a Standard Franchise, allowing for multiple locations, must sign a Multi-Franchise Addendum.
Prior to opening each additional Extreme Art Studio Business under a Standard Franchise, the franchisee must execute an Extreme Art Rider. Each individual Extreme Art Studio Business operated under the Franchise Agreement is subject to all obligations outlined in the agreement, unless otherwise specified.