What must I do to effect the assignment of the Fitstop lease to Fitstop or their nominee?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
- 9.3.5 Where you have entered into a lease in respect of the Premises: (1) we may at any time during the Term notify you in writing that we require you to assign the lease of the Premises to us or our nominee; and (2) you must within seven (7) calendar days of such request assign the lease of the Premises to us or our nominee and sign all documents and take all necessary steps to effect the assignment of the lease of the Premises.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to the 2024 Fitstop Franchise Disclosure Document, if Fitstop notifies you in writing that they require you to assign the lease of the premises to them or their nominee, you must assign the lease within seven calendar days of the request. This includes signing all documents and taking all necessary steps to complete the assignment.
Fitstop maintains the right to request this assignment at any time during the term of the lease. This provision ensures that Fitstop has control over the location of the franchise, which is critical to maintaining brand consistency and operational standards.
As a prospective franchisee, it is important to understand that Fitstop can take over your lease with only seven days' notice. You should factor this possibility into your business planning and ensure you understand the conditions under which Fitstop might exercise this right. It would be prudent to discuss with Fitstop the typical scenarios in which they would invoke this clause and what recourse, if any, you would have.