What is the length of the renewal 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. If a franchisee meets the renewal requirements, they are eligible to renew the franchise agreement for one additional term of 10 years.
To renew their Kidokinetics franchise, a franchisee must be in full compliance with the existing franchise agreement. They must also provide written notice to Kidokinetics at least 90 days, but not more than nine months, before the end of the current term. Additionally, franchisees are required to update machinery, equipment, tools, and vehicles as required by Kidokinetics.
Furthermore, the franchisee must not be in default of any provision of the Franchise Agreement and must satisfy all monetary obligations. They will also need to execute Kidokinetics' then-current form of franchise agreement, which may contain materially different terms and conditions than the original agreement. The franchisee must comply with then-current qualifications and training requirements, including completing additional training, pay a Renewal Fee, and execute a general release.