What is the maximum frequency that Hyper Kidz will hold a meeting of its franchisees?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
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- 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.)
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, Hyper Kidz has the option to hold a meeting of its franchisees, but these meetings will not occur more than once per year. These meetings will occur when Hyper Kidz believes it will be beneficial to the franchisees in the system.
These meetings may be beneficial for franchisees as Hyper Kidz may use the meeting to discuss new products or services, address franchisee concerns, and/or provide additional training. Franchisees should note that attendance at these meetings may be mandatory for them and/or their general manager unless excused by Hyper Kidz.
While Hyper Kidz does not anticipate charging a fee for attending the franchisee meeting, franchisees are responsible for covering all expenses incurred by themselves and their attendees. These expenses include travel, lodging, meals, and applicable wages. Franchisees should factor in these potential costs when budgeting for ongoing business expenses.