What is the significance of the date mentioned in the Fast Fix Jewelry And Watch Repairs addendum?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| rojected New Company-Owned | ||||
|---|---|---|---|---|
| Outlet Not Opened | Outlets in the Next Fiscal Year | |||
| Florida | 0 | 1 | 0 | |
| Totals | 0 | 1 | 0 |
FRANCHISE AGREEMENT
| THIS FRANCHISE AGREEMENT (this "Agreement") is dated as of20 (the "Effective | |
|---|---|
| Date"), for a term commencing20 (the "Effective Date") and is between JEWELRY | |
| REPAIR ENTERPRISES, INC., a Pennsylvania corporation ("Franchisor"), and, a(n) | |
| {corporation, limited liability company} ("Franchisee"). |
- A. Franchisor is engaged in the franchising of jewelry and watch repair businesses ("Fast-Fix Service Centers") which offer products and services from a kiosk ("Kiosk") or from an in-line store ("Inline Store"), and in connection therewith, permitting the use of the Marks (defined below).
- B. As a result of the expenditure of time, skill, effort, and money, Franchisor has established a well-known reputation with the public as to the quality of products and services available at the Franchised Business, which said reputation and goodwill has been and continues to be a distinct benefit to Franchisor and its franchisees.
- C.
Source: Item 22 — CONTRACTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the date refers to the effective date of the Franchise Agreement. The franchise agreement is dated as of a specific date in 20, which is referred to as the "Effective Date". This date marks the commencement of the agreement's term, also specified as being in 20. This signifies the start of the legal relationship and obligations between Jewelry Repair Enterprises, Inc. (the Franchisor) and the franchisee.
The agreement specifies that it is between Jewelry Repair Enterprises, Inc., and an entity identified as a corporation or limited liability company (the Franchisee). The Effective Date is crucial because it determines when the franchisee can begin operating under the Fast-Fix Jewelry And Watch Repairs brand and utilizing the franchisor's system, marks, and expertise. It also triggers various obligations for both parties, such as the franchisee's adherence to operational standards and the franchisor's support and provision of resources.
Furthermore, the Conditional Assignment and Assumption of Lease also references a date. It states that the agreement was entered into as of a certain date in 20, pursuant to which the franchisee plans to own and operate a franchise. This date is significant because it ties the lease agreement to the franchise agreement, making the lease conditional upon the franchise agreement's terms and conditions. This ensures that the franchisee has secured an appropriate location for their Fast-Fix Jewelry And Watch Repairs business, which is a critical component of the franchise operation.