Is Hyper Kidz required to hold annual meetings for 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.)
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 the 2024 Hyper Kidz Franchise Disclosure Document, Hyper Kidz is not required to hold annual meetings for franchisees. However, Hyper Kidz has the option to hold a meeting of its franchisees when they believe it will be beneficial to the franchisees in the system. These meetings will not be held more frequently than annually.
Hyper Kidz also has the right to hold a meeting or convention of its franchisees, which may be held on a regional or national basis. Hyper Kidz may specify that attendance at any franchisee meeting is mandatory for the franchisee and/or their General Manager unless the absence is excused by Hyper Kidz.
Hyper Kidz may use a franchisee meeting to discuss new products or services, to discuss concerns with franchisees, and/or to provide additional training. Hyper Kidz will determine the location of the franchisee meeting, but they will not designate an unreasonably expensive location. Hyper Kidz does not anticipate charging a fee for the franchisee meeting, but franchisees must pay all expenses that they and their attendees incur, including travel, lodging, meals and applicable wages.