If a Hyper Kidz franchisee wishes to relocate their Hyper Kidz Business, what action must they take?
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 the 2024 Hyper Kidz Franchise Disclosure Document, a franchisee wishing to relocate their Hyper Kidz Business must submit a written request to Hyper Kidz. This request must include all materials Hyper Kidz requires to consider the relocation. This process is also required if the Hyper Kidz Business is damaged or destroyed and cannot be repaired within 60 days.
In addition to the written request, the franchisee must meet several other requirements. These include being in full compliance with the Franchise Agreement. The proposed new location must also meet Hyper Kidz's then-current requirements for a Hyper Kidz Business and be located within the franchisee's Designated Territory. Finally, the franchisee must sign Hyper Kidz's then-current form of Franchise Agreement.
If Hyper Kidz permits the relocation, the franchisee will not be required to pay a new initial franchise fee when signing the new Franchise Agreement. Hyper Kidz also does not charge a relocation fee. This is a notable benefit for franchisees, as relocation can be a costly endeavor. The waiver of the franchise fee can save the franchisee a significant amount of money, making relocation a more financially viable option.