What is the Fly To Fit franchisee's obligation regarding the Principal Executive's meeting attendance?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
- 7.14 Meetings. The Principal Executive shall use reasonable efforts to attend all in-person meetings and remote meetings (such as telephone conference calls) that Fly To Fit Franchise requires, including any national or regional brand conventions.
Franchisee shall not permit the Principal Executive to fail to attend more than three consecutive required meetings.
Source: Item 22 — CONTRACTS (FDD page 44)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the Principal Executive is expected to attend all required in-person and remote meetings, including national or regional brand conventions. The FDD specifies that 'reasonable efforts' should be made to attend these meetings.
However, Fly To Fit allows for some flexibility, as the franchisee is permitted to have the Principal Executive miss up to three consecutive required meetings. If the Principal Executive exceeds this limit, it could potentially be considered a breach of the franchise agreement.
This requirement ensures that the Principal Executive stays informed about the Fly To Fit system, any updates, and overall brand strategy. It also provides a platform for networking and collaboration with other franchisees and the Fly To Fit management team. Franchisees should factor in the time and potential travel costs associated with attending these meetings when evaluating the Fly To Fit franchise opportunity.