How is the Fitstop Annual Conference contribution payable?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
e not required to expend any particular portion of the Fund or your Fund Contributions on marketing or other services that are allocated specifically to your Designated Territory.
- 13.6 Annual Conference Contribution(s). You may be required to remit to ua an amount equal to $150 per month as a contribution to defray the costs associated with any annual conference we determine to establish and conduct for System Business owners (an "Annual Conference"), which shall be payable in the same manner as your Royalty Fee on the date we designate each calendar month once you are required to have your Franchised Business open and operating.
- ©2024 Fitstop USA, Inc. 13.7 Other Fees Payable to Us and Local Marketing Requirement ("LMR"). You must ensure that all payments are timely made and/or payable out of your Designated EFT Account to cover any
and all Training Fees (whether for Instructor Training for a new/replacement Auhtorized Instructor or fee applicable to any other additional/remedial training, as set forth in our Manuals or otherwise in writing), Transfer Fee(s), Renewal Fee, Local Marketing Requirement and/or other marketing/advertising and/or promotional expenditures, to the extent such amounts are payable to us and/or any of our Approved Suppliers.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, franchisees may be required to contribute $150 per month towards the costs of the annual conference. This contribution is payable in the same manner as the royalty fee, on a date designated by Fitstop each calendar month, once the franchisee is required to have their Fitstop business open and operating.
To help franchisees manage the costs of attending the annual convention, Fitstop requires a monthly contribution. However, if a franchisee or their General Manager does not attend the annual convention, the amount equal to their attendance fee will be forfeited, and the franchisee will be in material default of the Franchise Agreement.
Franchisees are also responsible for covering all traveling, living, compensation, and other expenses incurred by themselves, their General Manager, and other personnel in connection with the initial training, supplementary training, seminars, meetings, conferences, and annual conventions. None of the fees, expenses, or charges associated with these events are refundable.