In the Focalpoint Coaching Franchise Agreement, what is the definition of the 'Effective Date'?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS FRANCHISE AGREEMENT | (this "Agreement") is made and entered into by | ||||||
|---|---|---|---|---|---|---|---|
| and between FOCALPOINT COACHING, INC., a Nevada corporation located at 2831 St. Rose | |||||||
| Parkway, | Suite | 234, | Henderson, , whose principal business address is ("Franchisee") as of the date signed by Franchisor and set forth opposite Franchisor's signature on this Agreement (the "Effective | Nevada | 89052, | ("Franchisor"), | and |
| Date"). |
Source: Item 22 — Contracts (FDD pages 56–57)
What This Means (2025 FDD)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the Effective Date of the Franchise Agreement is defined as the date signed by the Franchisor, Stephen A. Thompson, as indicated opposite his signature on the agreement. This date marks the commencement of the franchise term, which extends for seven years unless terminated earlier as per the agreement's provisions.
The Effective Date is a critical element as it triggers several obligations for both Focalpoint Coaching and the franchisee. For instance, the franchisee must open and operate the Franchised Business within sixty days following the Effective Date. Additionally, if an office location hasn't been approved by this date, the franchisee has sixty days to secure an acceptable location with Focalpoint Coaching's written approval.
Prospective Focalpoint Coaching franchisees should pay close attention to this date, as it sets the timeline for key actions and operational milestones. Understanding the implications tied to the Effective Date is essential for managing expectations and ensuring compliance with the Franchise Agreement. Franchisees should also note that certain state addenda, such as those for Virginia and South Dakota, may defer initial fee payments until pre-opening obligations are met and business operations commence, regardless of the Effective Date.