How many days do I have to assign the lease to Fitstop if they request it?
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 Fitstop's 2024 Franchise Disclosure Document, if Fitstop requests that you assign the lease of your premises to them or their nominee, you must do so within seven calendar days of receiving the request. You are also required to sign all necessary documents and take all necessary steps to complete the assignment within that timeframe.
This requirement is in place to give Fitstop control over the location of the franchise if they deem it necessary. This could be due to various reasons, such as the termination of the franchise agreement or other circumstances where Fitstop needs to ensure the continued operation of a Fitstop location.
As a prospective franchisee, it is important to understand this obligation and be prepared to act quickly if Fitstop exercises this right. Failure to comply within the seven-day period could potentially lead to further action by Fitstop, as adhering to lease terms is a material condition of the franchise agreement.