What is the length of the initial franchise term for a Kidokinetics franchise?
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, the initial franchise term is 10 years. This means that a new franchisee will be granted the rights to operate a Kidokinetics franchise for a decade, assuming they adhere to the terms and conditions outlined in the Franchise Agreement.
After the initial 10-year term, a franchisee has the option to renew the agreement for one additional term of 10 years. However, this renewal is not automatic. The franchisee must meet several requirements to be eligible for renewal.
These requirements include being in full compliance with the Franchise Agreement, providing timely written notice of intent to renew, updating equipment as required, satisfying all financial obligations, executing the then-current form of the franchise agreement (which may have materially different terms), meeting current qualifications and training standards, paying a renewal fee, and executing a general release. Failure to meet any of these conditions could result in Kidokinetics refusing to renew the franchise agreement.