What is the condition that triggers Hyper Kidz to hold a meeting of its franchisees?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
At our option, hold a meeting of our franchisees. This meeting will be held when we believe it will be beneficial to the franchisees in the System and will not be held more frequently than annually. (Franchise Agreement – Section 5.3.)
We may use a franchisee meeting to discuss new products or services, to discuss concerns with our franchisees, and/or to provide additional training. We will determine the location of the franchisee meeting, but we will not designate an unreasonably expensive location. We do not anticipate charging a fee for the franchisee meeting, but you must pay all expenses that you and your attendees incur, including travel, lodging, meals and applicable wages.
We may specify that attendance at any franchisee meeting is mandatory for you and/or your General Manager unless the absence is excused by us.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 24–33)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, Hyper Kidz has the option to hold a meeting of its franchisees. These meetings will occur when Hyper Kidz believes it will benefit the franchisees in the system. These meetings will not occur more than once per year.
These meetings may be used to discuss new products or services, address concerns with franchisees, or provide additional training. Hyper Kidz will determine the location of the franchisee meeting, but it will not be an unreasonably expensive location.
Hyper Kidz does not anticipate charging a fee for the franchisee meeting, but franchisees are responsible for all expenses incurred by themselves and their attendees. These expenses include travel, lodging, meals, and applicable wages. Attendance at these meetings may be mandatory for the franchisee and/or their General Manager unless excused by Hyper Kidz.