What are the three franchise options granted under the Extreme Art Studio Franchise Agreement?
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
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 to prospective franchisees. These options vary based on the number of Extreme Art Studio Businesses a franchisee is authorized to operate.
The first option is a "Single Franchise," which allows the franchisee to operate only one Extreme Art Studio Business. The second and third options are categorized as "Standard Franchises." The "Multi-2" option allows a franchisee to operate up to two Extreme Art Studio Businesses, while the "Multi-3" option enables the franchisee to operate up to three businesses.
If a franchisee is granted a Standard Franchise (Multi-2 or Multi-3), they must also sign a Multi-Franchise Addendum. Additionally, before opening the second or any subsequent Extreme Art Studio Business under a Standard Franchise, the franchisee must execute an Extreme Art Rider. This rider's form may differ materially from the sample included in the Franchise Disclosure Document.