What expenses are franchisees responsible for when attending a Hyper Kidz franchisee meeting?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
We have the right to hold a meeting or convention of our franchisees, which may be held on a regional or national basis. 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. 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.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 24–33)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, while the franchisor does not anticipate charging a fee for franchisee meetings, franchisees are responsible for covering all expenses incurred by themselves and their attendees. These expenses include travel, lodging, meals, and applicable wages. The franchisor retains the right to hold meetings or conventions for franchisees on a regional or national basis, with attendance potentially mandatory for the franchisee and/or their General Manager unless excused by Hyper Kidz.
Hyper Kidz may use these meetings to discuss new products or services, address concerns with franchisees, and provide additional training. The location of the franchisee meeting will be determined by Hyper Kidz, but they will aim to avoid unreasonably expensive locations.
This means that franchisees need to budget for these potential costs, which can vary depending on the location and duration of the meeting, as well as the number of attendees they choose to send. Franchisees should inquire about the frequency and typical locations of these meetings to better estimate these potential expenses.