During which periods of the term is a Fly To Fit remodel not required?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
- 7.13 Remodeling. In addition to Franchisee's obligations to comply with all System Standards in effect from time to time, Fly To Fit Franchise may require Franchisee to undertake and complete a Remodel of the Location to Fly To Fit Franchise's satisfaction.
Franchisee must complete the Remodel in the time frame specified by Fly To Fit Franchise.
Fly To Fit Franchise may require the Franchisee to submit plans for Fly To Fit Franchise's reasonable approval prior to commencing a required Remodel.
Fly To Fit Franchise's right to require a Remodel is limited as follows: (i) the Remodel will not be required in the first two or last two years of the term (except that a Remodel may be required as a condition to renewal of the term or a Transfer), and (ii) a Remodel will not be required more than once every five years from the date on which Franchisee was required to complete the prior Remodel.
Source: Item 22 — CONTRACTS (FDD page 44)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, there are specific times during the franchise term when a remodel is not required. Specifically, Fly To Fit will not require a remodel in the first two years or the last two years of the franchise term. However, a remodel may be required as a condition for renewing the franchise agreement or if the franchisee transfers the business to a new owner.
Additionally, Fly To Fit will not require a franchisee to undertake a remodel more than once every five years. This five-year period is measured from the date the franchisee completed their previous remodel.
These stipulations provide some predictability for franchisees regarding capital expenditures for remodeling. Franchisees can expect that they will not be forced to remodel immediately after opening or just before the end of their term, unless it is tied to a renewal or transfer. This can help with financial planning and managing the costs of operating the Fly To Fit franchise.