What is the late renewal administration charge for a Pearce Bespoke franchise?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
ior to the expiration of the then existing term a general release in favor of Franchisor, its Affiliates and related individuals and entities, from any claims arising before or during the term hereof; and
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- If Franchisee fails to timely meet any of the renewal conditions within the applicable timeframes, Franchisor may choose, in its sole discretion and without any obligation to do s
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, a franchisee may be charged a late renewal administration fee of $500 if they fail to meet the renewal conditions within the specified timeframes. This fee is at the discretion of Pearce Bespoke and is not an obligation on their part.
This $500 late renewal administration charge is in addition to the standard renewal fee. The standard renewal fee is the greater of $5,000 or 25% of the then-current franchise fee.
It is important to note that Pearce Bespoke is not obligated to allow a late renewal even if the franchisee pays the $500 fee. Franchisees should adhere to the renewal timelines and conditions to avoid the risk of non-renewal and the additional charge.