What must a Fitstop franchisee cure as a condition of renewal?

According to Fitstop's 2024 Franchise Disclosure Document, a franchisee must cure any and all defaults that exist as of the date the franchisee requests renewal and the date of renewal as a condition of renewal.

In addition to curing all defaults, the franchisee must also execute Fitstop's then-current Franchise Agreement, which may differ substantially from the agreement under which they have been operating. They must also execute a general release of any and all claims against Fitstop and its affiliates.

Furthermore, the franchisee is obligated to pay a renewal fee of $20,000 prior to or upon the execution of the appropriate renewal form(s) of agreement and/or addendum that Fitstop may require as a precondition to any renewal of the franchise and other rights awarded under the agreement. These conditions are standard in the franchise industry, as franchisors need to ensure that franchisees are in good standing and committed to the brand's future success before granting a renewal.