What is considered the 'Opening Date' for a Kidokinetics business?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
ranchisee has satisfactorily completed training. The date the Kidokinetics Business opens for business to the public is defined as the "Opening Date." Prior to the Opening Date, Franchisee will (i) complete all preparations for the Kidokinetics Business, including the purchase of all required supplies, equipment and vehicles, in accordance with System requirements, (ii) satisfactorily complete Franchisor's Initial Management Training Program, as further set forth in Article 7 above, and (iii) hire staff positions, as required by Franchisor. If Franchisee fails to comply with any of such obligations, Franchisor will have the right to prohibit Franchisee from opening for business. Franchisee's failure to open the Kidokinetics Business and commence business in accordance with this Section 7.2 will be deemed an event of default under this Agreement.
- 7.3. Relocation. Franchisee may not relocate the Kidokinetics Business without Franchisor's prior written consent, which shall not be unreasonably withheld.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the 'Opening Date' is defined as the date the Kidokinetics business opens for business to the public. Before this date, the franchisee must complete several tasks. These include purchasing all required supplies, equipment, and vehicles according to the Kidokinetics system requirements, satisfactorily completing the Franchisor's Initial Management Training Program, and hiring the necessary staff positions as required by Kidokinetics.
Kidokinetics emphasizes the importance of adhering to the timeline, stating that time is of the essence in the Franchise Agreement. Franchisees are expected to open their Kidokinetics business and commence operations within 90 days after they have satisfactorily completed their training. Failure to meet these obligations gives Kidokinetics the right to prevent the franchisee from opening the business.
Failure to open the Kidokinetics business and commence business within the specified timeframe is considered an event of default under the Franchise Agreement. This highlights the importance of careful planning and execution to meet the opening requirements and avoid potential penalties or termination of the franchise agreement.