Under what circumstances must a Hyper Kidz franchisee submit a relocation request?
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, a franchisee must submit a relocation request under two specific circumstances. First, if the franchisee wishes to relocate their Hyper Kidz Business during the term of the Franchise Agreement, they must request permission from Hyper Kidz. Second, if the Hyper Kidz Business is damaged or destroyed and cannot be repaired within 60 days, the franchisee is required to submit a relocation request.
In either of these situations, the franchisee must provide Hyper Kidz with the materials required to consider the request, including information about the proposed new location. The proposed location must meet Hyper Kidz's then-current requirements for a Hyper Kidz Business and be located within the franchisee's Designated Territory. Additionally, the franchisee must be in compliance with the Franchise Agreement and sign Hyper Kidz's then-current form of Franchise Agreement.
It is important to note that 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, and Hyper Kidz does not charge a relocation fee. This is a notable benefit for franchisees facing unforeseen circumstances that necessitate relocation, as it reduces the financial burden associated with moving the business. Franchisees should carefully review the Franchise Agreement to understand all requirements and conditions related to relocation.