What is the Kidokinetics franchisee's obligation upon any change of ownership?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
Upon the occurrence of any change of ownership, Franchisee will immediately provide Franchisor with a copy of the updated list of all owners of the entity.
Franchisee will make a list of its owners available to Franchisor at any time upon request;
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, if there is any change of ownership, the franchisee must immediately provide Kidokinetics with an updated list of all owners of the entity. The franchisee must also make a list of its owners available to Kidokinetics at any time upon request.
This requirement ensures that Kidokinetics is always aware of who owns and controls each franchise location. This is a fairly standard clause in franchise agreements, as franchisors need to maintain oversight of their franchisees for brand consistency and legal compliance.
For a prospective Kidokinetics franchisee, this means keeping detailed records of ownership and being prepared to update Kidokinetics promptly whenever there are changes. Failure to do so could potentially lead to a breach of the franchise agreement.