What is the deadline for a Kidokinetics franchisee to provide written notice to renew the franchise term?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
| Provision | Franchise or Other | Summary | |
|---|---|---|---|
| Agreement | |||
| a. | Length of the franchise term | Article 3 | The initial term is 10 years. |
| b. | Renewal or extension of the term | Article 4 | You may renew for one additional term of 10 years, subject to our renewal requirements. If you fail to meet any one of these conditions, we may refuse to renew or extend the terms of your Franchise Agreement. |
| c. | Requirements for franchisee to renew or extend | Article 4 | Be in full compliance, provide written notice to us at least 90 days, but not more than nine months, before the end of the term, update machinery, equipment, tools and vehicles as required, not be in default of any provision of the Franchise Agreement, satisfy all monetary obligations, execute our then-current form of franchise agreement (with materially different terms and conditions than your original Franchise Agreement), comply with then-current qualifications and training requirements, including completion of additional training, pay us a Renewal Fee, execute a general release. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 40–46)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, a franchisee must provide written notice to Kidokinetics at least 90 days, but not more than nine months, before the end of the initial franchise term to be eligible for renewal. The initial term for a Kidokinetics franchise is 10 years, and franchisees are eligible for one additional term of 10 years if they meet certain requirements.
To renew their Kidokinetics franchise, franchisees must be in full compliance with the franchise agreement, update machinery, equipment, tools, and vehicles as required, and not be in default of any provision of the Franchise Agreement. They must also satisfy all monetary obligations and execute Kidokinetics's then-current form of franchise agreement, which may have materially different terms and conditions than the original agreement.
Additionally, franchisees must comply with then-current qualifications and training requirements, including completing additional training, pay a Renewal Fee, and execute a general release. Failure to meet any of these conditions may result in Kidokinetics refusing to renew or extend the terms of the Franchise Agreement. This is a fairly standard renewal process in franchising, although the specific timeframes and conditions can vary significantly between different franchise systems.