What training must a Kitchen Solvers franchisee complete to be assigned the lease?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS COLLATERAL ASSIGNMENT OF LEASE is made as of the last date below written by and among ("Tenant"), KS LA CROSSE INVESTMENTS, LLC ("Franchisor"), and ("Landlord").
WHEREAS, Tenant is the tenant under a certain lease (or sublease), dated (the "Lease"), wherein Landlord leased to Tenant certain premises at (the "Premises"); and WHEREAS, Tenant and have, or will, enter into a Franchise Agreement (the "Franchise Agreement"), whereby will grant to Tenant the right to open and operate a KITCHEN SOLVERS® franchised business under Franchisor's system at the Premises; and WHEREAS, as a condition to entering into the Franchise Agreement, has required that Tenant assign its right, and interest in the Lease, with the right to reassign (as provided therein), as security for Tenant's obligations and Franchisor's rights under the Franchise Agreement; and WHEREAS, in order to induce to enter into the Franchise Agreement, Tenant has agreed to assign its right, and interest in the Lease, with the right to reassign (as provided therein), as security for Tenant's obligations and Franchisor's rights under the Franchise Agreement.
NOW THEREFORE, in consideration for the foregoing premises and the mutual promises contained herein and in the Franchise Agreement, and in order to secure Tenant's obligations and Franchisor'srights under the Franchise Agreement, Tenant does hereby collaterally assign, transfer and set over unto Franchisor, with the right to reassign (as provided herein), all of its right, and interest in and to the Lease and in and to the Premises; it being nevertheless expressly understood and agreed that this assignment is made and is consented to the Landlord contingent upon the following terms, covenants, limitations and conditions: Tenant's Right to Possession.
Tenant shall retain right to possession of the 1.
Premises in accordance with the terms and conditions of the Lease until the occurrence of an Assignment Event (as defined in paragraph 2 of this Agreement).
Source: Item 22 — Contracts (FDD page 49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, a franchisee must fulfill certain conditions to have the lease assigned to them. As a condition to entering into the Franchise Agreement, Kitchen Solvers requires that the franchisee assign their rights and interest in the lease as security for the franchisee's obligations and Kitchen Solvers' rights under the Franchise Agreement. This assignment is made with the right to reassign, providing Kitchen Solvers with a security interest in the lease.
To ensure the franchisee meets these obligations, the franchisee must collaterally assign, transfer, and set over to Kitchen Solvers all rights and interests in the lease and the premises. This assignment is consented to by the landlord and is contingent upon specific terms, covenants, limitations, and conditions outlined in the agreement. The franchisee retains the right to possess the premises according to the lease terms until an Assignment Event occurs, as defined in the agreement.
This collateral assignment of lease protects Kitchen Solvers by securing the franchisee's obligations under the Franchise Agreement. It ensures that if the franchisee fails to meet their obligations, Kitchen Solvers has the right to reassign the lease. This arrangement provides Kitchen Solvers with a degree of control over the business location, mitigating potential risks associated with franchisee non-compliance or business failure. Prospective franchisees should carefully review the terms of the Collateral Assignment of Lease to understand their obligations and the conditions under which Kitchen Solvers may exercise its rights.