What is the definition of 'Minimum Performance Standard(s)' for a Pearce Bespoke franchise?

According to Pearce Bespoke's 2025 Franchise Disclosure Document, the 'Minimum Performance Standard(s)' refers to the specified Gross Sales a franchisee needs to achieve to retain their Franchised Territory. The FDD outlines specific minimum gross sales targets that a Pearce Bespoke franchisee must meet.

Following the opening date of the franchise, the minimum gross sales required in Year 1 is $50,000. This increases to $75,000 in Year 2, and $100,000 in Year 3. After the third year, the minimum gross sales required increases by 10% over the previous year's minimum.

In addition to minimum gross sales, Pearce Bespoke also requires franchisees to make certain minimum weekly royalty payments to retain their territory. These 'Minimum Royalty Payments' start at $100 per week in Year 1, increasing to $150 per week in Year 2, and $200 per week in Year 3. Like the gross sales target, the minimum weekly royalty payment increases by 10% over the previous year's minimum starting in Year 4. A prospective franchisee should carefully consider these requirements and develop a business plan that ensures they can meet these minimum standards to maintain their franchised territory.