What is the deadline for executing the Franchise Agreement for each Face Foundrie Franchised Facial Bar?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
With respect to the Franchise Agreements to be executed for the Franchised Facial Bars to be developed pursuant to this Agreement, the following terms and conditions shall apply:
3.4.1 The Franchise Agreement for the first Franchised Facial Bar to be developed under this Agreement shall be executed simultaneously with the execution of this Agreement.
3.4.2 The Franchise Agreement for each subsequent Franchised Facial Bar to be developed under this Agreement shall be Franchisor's then-current form of Franchise Agreement, the terms of which may differ from the terms of the Franchise Agreement executed simultaneously with this Agreement including, without limitation, higher and/or additional fees.
3.4.4 Area Developer must execute each Franchise Agreement in accordance with the Development Schedule.
Failure to timely execute a Franchise Agreement as required by this Section 3.4 will constitute a default under this Agreement.
| Franchised Facial Bar Number | Date by Which Franchise Agreement Must be Signed |
|---|---|
| 1 | Date of this Agreement. |
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the deadline for executing the Franchise Agreement depends on whether it is the first or a subsequent agreement under an Area Development Agreement. The Franchise Agreement for the first Face Foundrie Facial Bar must be executed simultaneously with the execution of the Area Development Agreement. For each subsequent Face Foundrie Facial Bar, the Franchise Agreement must be executed in accordance with the Development Schedule outlined in Exhibit A of the Area Development Agreement.
Failure to execute the Franchise Agreement within the specified timeframe in the Development Schedule constitutes a default under the Area Development Agreement. This could lead to penalties, including the loss of rights to develop additional Face Foundrie Facial Bars and the retention of area development fees by Face Foundrie.
It is important for prospective Area Developers to carefully review the Development Schedule in Exhibit A and understand the deadlines for executing Franchise Agreements for each Face Foundrie location. Missing these deadlines can have significant financial and operational consequences. Additionally, a table in Item 23 indicates that for the first franchised facial bar, the Franchise Agreement must be signed on the date of the agreement.