Does the My Salon Suite Franchise Agreement outline any specific procedures for the renewal process?

According to My Salon Suite's 2025 Franchise Disclosure Document, the Franchise Agreement does outline specific procedures for renewal. The initial term of the franchise is ten years, as stated in Section 4.A of the Franchise Agreement. According to Section 4.B, a franchisee in good standing who meets other requirements can renew for two consecutive terms of 10 years each.

To renew the franchise, the franchisee must provide notice of renewal no fewer than 9 months and no greater than one year before the end of the current term. They must also prove they can operate the Franchised Business at the approved location for the renewal term, or secure a substitute location acceptable to My Salon Suite. The franchisee is responsible for completing all necessary maintenance, refurbishing, renovating, updating, and remodeling of the premises, including hardware and software updates, to meet the then-current standards for new franchisees.

Additionally, the franchisee must not be in breach of any agreements with My Salon Suite, its affiliates, or approved vendors, and must be in substantial compliance with these agreements. All monetary obligations to My Salon Suite, its affiliates, and approved vendors must be satisfied. The franchisee must execute the then-current form of the franchise agreement, which may contain materially different terms and conditions, including potentially higher royalty fees and brand building fund contributions. They also need to satisfy the then-current training requirements for renewing franchisees at their own expense before the renewal date and execute a general release in favor of My Salon Suite and its affiliates. Finally, the franchisee must pay a renewal fee equal to 15% of My Salon Suite's then-current initial franchise fee.

These renewal terms are subject to change, as the new franchise agreement for the renewal term may have different terms and conditions. It is important for potential franchisees to understand these obligations and potential changes, as failing to meet these requirements could prevent them from renewing their franchise agreement.