What is the deadline to repair a damaged or destroyed Hyper Kidz Business before relocation must be considered?
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, if a Hyper Kidz Business is damaged or destroyed, the franchisee has 60 days to repair the business. If the damage cannot be repaired within this timeframe, the franchisee must consider relocation. To do so, the franchisee must submit a written request to Hyper Kidz, including information about the proposed new location.
In addition to submitting the relocation request, the franchisee must also meet several other requirements. These include being in compliance with the Franchise Agreement, ensuring the new location meets Hyper Kidz's current requirements, and signing the then-current form of the Franchise Agreement. If Hyper Kidz approves the relocation, the franchisee will not be required to pay a new initial franchise fee when signing the new Franchise Agreement, and Hyper Kidz does not charge a relocation fee.
This policy provides a defined timeframe for franchisees to address unforeseen circumstances like property damage. The 60-day window offers an opportunity to restore the business at the original location, but also sets a clear expectation for when relocation becomes a necessary alternative. By waiving the new initial franchise fee, Hyper Kidz reduces the financial burden on franchisees who are forced to relocate due to circumstances beyond their control. This can be a significant benefit, as relocation costs can be substantial.