What is the renewal fee for a Fitstop franchise?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
ctors, agents, and employees in their corporate and individual capacities including, without limitation, claims arising under this Agreement and any federal, state, and local laws, rules, and ordinances;
- 14.4.3 Pay us a renewal fee of $20,000 prior to or upon execution of the appropriate renewal form(s) of agreement and/or addendum we, at our option, have the right to require as a precondition to any renewal of t
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, franchisees must pay a renewal fee of $20,000 if they choose to renew their franchise agreement. This fee is due prior to or upon the execution of the renewal agreement. The option to renew is contingent on the franchisee not being in default of the agreement at the time of the renewal request or the actual renewal date.
To be eligible for renewal, franchisees must provide written notice to Fitstop of their intent to renew the agreement no less than six months and no more than twelve months before the current term expires. Fitstop may offer up to two consecutive five-year renewal terms.
As a condition of renewal, franchisees must execute Fitstop's then-current Franchise Agreement, which may differ substantially from the original agreement. They must also sign a general release of all claims against Fitstop and its affiliates. Meeting all these conditions, including paying the $20,000 renewal fee and curing any existing defaults, is essential for a Fitstop franchisee to secure a renewal of their franchise.