What is the earliest date before the end of the term that a Kidokinetics franchisee can provide written notice to renew?
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 seeking to renew their franchise agreement must provide written notice to Kidokinetics at least 90 days, but not more than nine months, before the end of their current term.
Since the initial term for a Kidokinetics franchise is 10 years, this means a franchisee can provide notice as early as nine months prior to the 10-year expiration date of the franchise agreement. This early notification allows Kidokinetics ample time to assess the franchisee's compliance and make necessary arrangements for renewal.
It is important to note that providing notice within the specified timeframe is just one of several requirements for renewal. The franchisee must also be in full compliance with the Franchise Agreement, update equipment as required, satisfy all monetary obligations, execute the then-current form of franchise agreement, meet current qualifications and training requirements, pay a renewal fee, and execute a general release. Failure to meet any of these conditions may result in Kidokinetics refusing to renew the franchise agreement.