What is the deadline for a Fitstop franchisee to notify Fitstop of changes to the proposed transfer terms?

According to Fitstop's 2024 Franchise Disclosure Document, if there are any material changes to the terms of a proposed transfer after Fitstop has declined to exercise its Right of First Refusal, the franchisee must notify Fitstop of these changes in writing. Following this notification, Fitstop then has an additional 10 calendar days to decide whether to exercise its Right of First Refusal. This clause ensures Fitstop has the opportunity to reassess the transfer under the revised terms.

This requirement is important because any significant alterations to the transfer agreement could impact Fitstop's interests or the suitability of the new franchisee. By requiring notification and providing an additional review period, Fitstop maintains control over who joins their franchise system and under what conditions. The franchisee must ensure that Fitstop is promptly informed of any changes to avoid delays or potential disputes during the transfer process.

In practical terms, if a Fitstop franchisee is in the process of transferring their franchise and the financial arrangements, operational agreements, or any other key terms change, they have a responsibility to immediately inform Fitstop. This allows Fitstop to protect its brand and ensure the continued success of the franchise network. Failing to do so could jeopardize the transfer or lead to termination of the franchise agreement.