When must a Gold Star franchisee provide written notice of their election to renew the franchise agreement?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
- 16.1.1 FRANCHISEE gives the COMPANY written notice of its election to renew not less than six (6) months nor more than nine (9) months prior to the expiration of the term of this Agreement and satisfies all other conditions set forth herein at the earlier of the times required or the date of expiration of this Agreement;
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, a franchisee must provide written notice of their election to renew the franchise agreement not less than six months nor more than nine months prior to the expiration of the current agreement's term. This notification must be provided while also satisfying all other renewal conditions outlined in the agreement.
This requirement ensures that Gold Star has adequate time to evaluate the franchisee's eligibility for renewal and to prepare the necessary documentation. It also allows the franchisee sufficient time to secure the premises for the retail location, execute required releases, and meet all financial and operational obligations.
Failure to provide timely notice or meet all other renewal conditions will be deemed an election by the franchisee not to renew the franchise. This could result in the termination of the franchise agreement at the end of its current term. Franchisees should carefully mark these deadlines and ensure compliance to avoid losing their franchise.
It is important to note that state laws may provide otherwise, so franchisees should consult applicable state law to ensure compliance with all requirements. Additionally, the cover page of the Franchise Agreement may contain different terms regarding renewal, which would then take precedence over the standard terms.