What are the three franchise options available for an Extreme Art Studio?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
- 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 options available. These include a Single Franchise, where the franchisee operates a single Extreme Art Studio Business. The other two options are the Multi-2 and Multi-3, collectively referred to as Standard Franchises, allowing the franchisee to operate up to two or three Extreme Art Studio Businesses, respectively.
If a franchisee is granted a Standard Franchise, they are required to sign a Multi-Franchise Addendum. Prior to opening the second and any subsequent Extreme Art Studio Business under a Standard Franchise, both the franchisee and Extreme Art Studio will need to execute an Extreme Art Rider. This rider is attached to the Franchise Agreement but may vary materially from the form initially attached.
For franchisees who operate multiple Extreme Art Studio Businesses, each reference to the 'Franchised Business' refers to each individual Extreme Art Studio Business operated under the Franchise Agreement, unless otherwise specified. All obligations outlined in the Franchise Agreement apply individually to each Extreme Art Studio Business that the franchisee operates.