How does My Salon Suite define 'Good Standing' for its franchisees?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
- **M.
Definition of Good Standing**.
The term "Good Standing" means that you do not owe any Royalty Fees, Brand Contributions or Technology Fees, or any other monetary obligations to Franchisor more than thirty (30) days and Franchisee is in compliance with all of Franchisee's other obligations under the Franchise Agreement and any other agreement with us, including timely reporting of Gross Sales.
You are not in "Good Standing" if you make partial payments to us, but still have amounts outstanding more than thirty (30) days.
Source: Item 23 — RECEIPTS (FDD pages 95–230)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, a franchisee is considered in "Good Standing" if they meet specific financial and compliance obligations. Specifically, the franchisee must not owe any Royalty Fees, Brand Contributions, or Technology Fees, or any other monetary obligations to My Salon Suite for more than thirty (30) days.
In addition to financial obligations, the franchisee must also be in compliance with all other obligations outlined in the Franchise Agreement and any other agreements with My Salon Suite. This includes the timely reporting of Gross Sales.
It's important to note that making partial payments does not qualify a franchisee as being in "Good Standing" if there are still outstanding amounts that are more than thirty (30) days past due. This definition is crucial because a franchisee's status of "Good Standing" can affect their ability to renew their franchise agreement or exercise other rights within the franchise system.