Does Hyper Kidz charge a relocation fee?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
If, during the term of the Franchise Agreement, you wish to relocate your Hyper Kidz Business, or if your Hyper Kidz Business is damaged or destroyed and cannot be repaired within 60 days, you must submit to us in writing the materials we require to consider your request, including information concerning
the proposed new location for your Hyper Kidz Business. You must also meet certain other requirements, such as being in compliance with the Franchise Agreement, the location meets our then-current requirements for a Hyper Kidz Business and is located within your Designated Territory, and you must sign our then-current form of Franchise Agreement. If we permit you to relocate, you will not pay a new initial franchise fee when you sign the new Franchise Agreement. We do not charge a relocation fee.
Source: Item 12 — TERRITORY (FDD pages 33–36)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, Hyper Kidz does not charge a relocation fee. If a franchisee wishes to relocate their Hyper Kidz Business during the term of the Franchise Agreement, or if the business is damaged or destroyed and cannot be repaired within 60 days, the franchisee must submit a written request with the required materials to Hyper Kidz for consideration.
To relocate, the franchisee must be in compliance with the Franchise Agreement, the new location must meet Hyper Kidz's then-current requirements for a Hyper Kidz Business, and the new location must be within the Designated Territory. Additionally, the franchisee must sign Hyper Kidz's then-current form of Franchise Agreement.
Importantly, while Hyper Kidz does not charge a new initial franchise fee when the franchisee signs the new Franchise Agreement for the relocated business, the franchisee will likely incur costs associated with preparing the new location. These costs can include construction, permits, and other expenses to ensure the new site meets Hyper Kidz's standards. Franchisees should carefully consider these potential costs and ensure they have sufficient capital before deciding to relocate their Hyper Kidz Business.