How far in advance will Management Recruiters notify the client of any rate changes?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
- (a) The fees for the Services shall be Hire Quest's then current fees and rates for the Services in effect on the effective date of this Agreement, as set forth in the attached Exhibit B, which is incorporated herein by reference. Such fees may be periodically adjusted by Hire Quest. Any rate changes deemed necessary by Hire Quest will become effective on the first day of July following the notification of said changes. Hire Quest will notify Client of any rate changes at least thirty (30) days prior to the effective date of any such changes.
Source: Item 23 — RECEIPTS (FDD pages 67–327)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, Hire Quest, the service provider, will notify clients of any rate changes at least thirty (30) days prior to the effective date of such changes. These rate changes, if deemed necessary by Hire Quest, will become effective on the first day of July following the notification.
This means that a Management Recruiters franchisee will receive at least a 30-day notice before any adjustments to the service fees take effect. This advance notice allows the franchisee to prepare for the changes and adjust their business strategies accordingly. Since the rate changes occur on July 1st, the franchisee will have ample time to communicate these changes to their clients and factor them into their financial planning.
This policy ensures transparency and predictability in the service fees charged to Management Recruiters franchisees. By providing a clear timeline for rate adjustments, Hire Quest enables franchisees to maintain strong client relationships and manage their business operations effectively. Franchisees should pay close attention to any notifications from Hire Quest regarding rate changes to ensure they are well-prepared for the adjustments.