Where can I find the expiration date of the initial term for a Healthsource Chiropractic franchise?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
- 1 Term; Reference to Exhibit 1. You have applied for a franchise to own and operate a HealthSource Chiropractic Clinic, and we have approved your application in reliance on all of the representations you made in that application. As a result, and subject to the provisions of this Agreement, we grant to you a Franchise to operate a Clinic offering all products, services, and proprietary programs of ours in accordance with all elements of the System, that we may require for HealthSource Chiropractic Clinics. You must operate the Franchise at a mutually agreeable site (the "Premises") to be identified after the signing of this Agreement, and to use the System and the Marks in the operation of that Franchise, for an "Initial Term" of 10 years. The Initial Term will begin on the Agreement Date, unless you are assuming the Franchise pursuant to a Transfer, in which case the length of the Initial Term shall be determined by the applicable Transfer Agreement. To avoid uncertainty, the expiration date of the Initial Term is listed on Exhibit 1.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the expiration date of the initial franchise term is specified in Exhibit 1 of the Franchise Agreement. The standard initial term for a Healthsource Chiropractic franchise is 10 years, commencing on the Agreement Date. However, if the franchise is being transferred, the term's length will be determined by the Transfer Agreement.
Exhibit 1 to the Healthsource Chiropractic Franchise Agreement also contains information regarding the Protected Territory and Franchise Opening.
Understanding the initial term and its expiration is crucial for franchisees as it dictates the period during which they are obligated to operate the franchise and adhere to the Franchise Agreement's terms. Furthermore, the expiration date is a key factor in decisions regarding renewal, potential sale, or termination of the franchise.