What is the minimum amount of notice a Fitstop franchisee must give to renew their agreement?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
- 14.2 Not less than six (6) months or more than 12 months prior to the expiration of the Term, you must notify us in writing of your intention to renew this Agreement for the Renewal Term.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, a franchisee must provide written notice of their intention to renew the franchise agreement at least six months before the expiration of the current term. This notification period cannot exceed 12 months prior to the term's end.
Providing this notice is a prerequisite for Fitstop to consider offering a renewal. The option to renew is not guaranteed, as Fitstop may offer up to two consecutive five-year renewal terms, contingent on the franchisee meeting specific conditions.
To successfully renew, the franchisee must not be in default of the agreement, must execute Fitstop's then-current franchise agreement (which may differ significantly from the original), sign a general release of claims against Fitstop, pay a renewal fee of $20,000, and cure any existing defaults. Failing to provide the minimum six months' notice will jeopardize the franchisee's opportunity to extend their business operations under the Fitstop brand.