When does a Fitstop franchisee begin paying the Annual Conference contribution?
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"),
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 to the cost of the annual conference. This contribution is $150 per month. Fitstop will designate the date each calendar month that the fee is payable, and payments will be made in the same manner as royalty fees.
Franchisees are required to begin paying this fee once their Fitstop franchise is open and operating. This contribution helps Fitstop defray the costs associated with establishing and conducting the annual conference for System Business owners.
It's important to note that attendance at the annual convention is mandatory for both the franchisee and their General Manager. Failure to attend results in forfeiture of an amount equal to their attendance fee, and places the franchisee in material default of the Franchise Agreement. Franchisees are also responsible for covering all traveling, living, compensation, and other expenses incurred while attending the initial training, supplementary trainings, seminars, meetings, conferences, and annual conventions.