What is the definition of 'Premises' in the Fitstop franchise agreement?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
You must operate the Franchised Business from a premises that you propose and we approve in writing before you secure the same (the "Premises"). As of the Issue Date, our standard franchise offering expects and assumes that your Premises will: (i) be between 1,800 and 3,000 square feet in size; (ii) have ample parking (shared or otherwise) for Members and other patrons of the Franchised Business; and (iii) be located in a larger shopping venue as an in-line or, provided the lease terms are commercially reasonable, an end-cap location. We will approve any site you propose as the Premises for your Franchised Business as disclosed more fully in Item 11 of this Disclosure Document.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS, AND AFFILIATES (FDD pages 7–9)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the 'Premises' refers to the location from which the franchisee will operate the Fitstop business. The franchisee must propose a location, and Fitstop must approve it in writing before the franchisee secures it.
As of the issue date of the FDD, Fitstop's standard franchise offering anticipates that the Premises will typically range from 1,800 to 3,000 square feet in size. It should also have sufficient parking available for members and other patrons. Fitstop prefers the location to be in a larger shopping venue, either as an in-line space or, if the lease terms are commercially reasonable, as an end-cap location.
Fitstop retains the right to approve any site proposed by the franchisee as the Premises for the Franchised Business. Further details regarding site approval can be found in Item 11 of the FDD.