On what date does the Kidokinetics franchise agreement term commence?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
Subject to Franchisee's compliance with the conditions stated below, Franchisee shall open the Kidokinetics Business and commence business within 90 days after Franchisee 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.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the franchise agreement's term begins when the franchisee opens their Kidokinetics business to the public, which is referred to as the "Opening Date." However, this is subject to the franchisee meeting certain conditions.
Prior to the Opening Date, the franchisee must complete all necessary preparations for the Kidokinetics business. This includes purchasing all required supplies, equipment, and vehicles according to the Kidokinetics system standards. Additionally, the franchisee must satisfactorily complete the initial management training program provided by Kidokinetics. They are also responsible for hiring the necessary staff positions as required by Kidokinetics.
If the franchisee fails to meet these obligations, Kidokinetics has the right to prevent the franchisee from opening the business. Failure to open the Kidokinetics business and commence operations according to these terms will be considered a default event under the franchise agreement. Franchisees should, therefore, ensure they meet all requirements and timelines to avoid potential penalties or termination of the agreement.