What form will the individual franchise agreement for a Learningrx center be in?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
| This LearningRx Satellite Addendum ("Addendum") is entered into this day of , 20 , by and between LearningRx Franchise Corporation, a Colorado corporation ("Franchisor"), and , a ("Franchisee"). |
|---|
| RECITALS |
| WHEREAS, on |
| , 20 |
| the |
| parties |
| entered |
| into |
| a |
| franchise |
| agreement ("Franchise Agreement") pursuant to which Franchisee was granted the right to |
| operate a Center at the Premises, using the System and Marks for the term of the Franchise |
| Agreement; |
| WHEREAS, Franchisee desires to obtain a license to operate an additional location |
| ("Satellite Location") under the Marks and in strict conformance with the System and the |
| specifications listed in Franchisor's Operations Manual, and Franchisor is willing to grant |
| Franchisee such a license to operate a Satellite Location under the terms and conditions of this |
| Addendum; and |
| WHEREAS, all capitalized terms used in this Addendum shall have the meaning as defined |
| in the Franchise Agreement. |
| NOW, the parties agree as follows: |
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
Based on the 2025 Learningrx Franchise Disclosure Document, the franchise agreement is a formal, written contract. The document outlines key terms, obligations, and conditions for both Learningrx and the franchisee.
The Learningrx franchise agreement includes specifics such as the designated premises for operation, as detailed in Attachment I of the agreement. It also defines the franchisee's territory and any limitations regarding soliciting business outside of that territory. The agreement also contains information regarding the term and renewal options.
Furthermore, the Learningrx FDD emphasizes that franchisees must acknowledge receipt of the disclosure document, franchise agreement, and financial statements at least 14 calendar days before signing the agreement or paying any money. This acknowledgement underscores the importance of franchisees conducting thorough due diligence and seeking professional advice before committing to the franchise. The agreement also contains recitals specifying the agreement between Learningrx and the franchisee.