factual
What happens if a Kidokinetics franchisee fails to open for business within the specified timeframe?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
signing such lease.
- 7.2. Time to Open. Franchisee acknowledges that time is of the essence in this Agreement. 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)
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, franchisees must open their Kidokinetics business within 90 days after completing training. This timeframe is considered critical to the agreement.
If a franchisee fails to meet this deadline, Kidokinetics has the right to prevent the franchisee from opening the business. Furthermore, such failure is considered a default event under the Franchise Agreement.
This means that failing to open on time can lead to termination of the agreement and loss of the franchise. Prospective franchisees should carefully consider their ability to meet this deadline, as Kidokinetics emphasizes that time is of the essence.
Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.