How are changes or amendments to the Kidokinetics Franchise Agreement required to be documented?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
7.3.4. Schedule 1 of this Agreement shall be amended to reflect the address of the new Kidokinetics Business Location.
15.3.10.
Franchisee or transferee will provide Franchisor a copy of the executed purchase agreement relating to the proposed transfer with all supporting documents and schedules, including transferee's assumption of an agreement to faithfully perform all of Franchisee's obligations under this Agreement;
WHEREAS, as a condition to Franchisor's consent to (transfer the Agreement/enter into a successor franchise agreement/amend the Agreement/terminate the Agreement/other reason), Releasor has agreed to execute this Release upon the terms and conditio
Former Franchisee agrees to keep Franchisor informed of its current address and telephone number at all times during the three-year period following the execution of this Agreement.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
The Kidokinetics 2024 Franchise Disclosure Document states that amendments to Schedule 1 of the agreement, specifically regarding a new Kidokinetics Business Location address, will be made to reflect the updated address.
Additionally, in the event of a transfer of the franchise, Kidokinetics requires that the franchisee provide a copy of the executed purchase agreement relating to the proposed transfer, including all supporting documents and schedules. This documentation must include the transferee's agreement to faithfully perform all of the franchisee's obligations under the existing Franchise Agreement.
Furthermore, if a franchisee desires to transfer their agreement, or an ownership interest, Kidokinetics requires a general release agreement to be executed. This agreement is a condition of Kidokinetics's consent to the transfer, successor franchise agreement, amendment, or termination. The former franchisee must also keep Kidokinetics informed of their current contact information for three years following the agreement's execution.