What is the maximum Non-Attendance Fee that Pearce Bespoke may charge a franchisee for not attending a summit or convention?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
d by the Payment Card Industry Security Standards Council or its successor organization, FACTA and any other card payment standards Franchisor may specify.
T. Summits and Conventions.
Unless otherwise excused by Franchisor in writing, Franchisee is required to attend all franchisee summits & conventions. A Summit may be held annually or at such intervals as Franchisor may determine is appropriate. A Franchise or principal must attend. Additional staff or clothiers may attend if Franchisee desires. Franchisee shall bear all costs of attending each summit or meeting, including transportation, lodging, meals and personal expenses. In addition, Franchisor may elect to charge a Conference Fee of up to Five Hundred United States Dollars ($500 USD) per Franchisee. This cost, including the fee maximum, may be changed from time to time by the Franchisor as per the Manuals. Non-attendance
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, franchisees are generally required to attend all franchisee summits and conventions unless excused in writing by Pearce Bespoke. These summits may be held annually or at intervals determined appropriate by Pearce Bespoke, and attendance by a franchisee or principal is mandatory, with additional staff or clothiers permitted to attend at the franchisee's discretion. The franchisee is responsible for all costs associated with attending these events, including transportation, lodging, meals, and personal expenses. Pearce Bespoke may also elect to charge a Conference Fee of up to $500 per franchisee, a figure that may be adjusted over time according to the manuals.
Failure to attend the summit without prior written approval from Pearce Bespoke constitutes a material breach of the franchise agreement. In such cases, Pearce Bespoke has the right to impose a Non-Attendance Fee.
The maximum Non-Attendance Fee that Pearce Bespoke may charge a franchisee for not attending a summit or convention is $1,000. This fee serves as a financial penalty for non-compliance with the mandatory attendance requirement and is intended to encourage participation in these events, which Pearce Bespoke likely views as crucial for maintaining brand standards, fostering communication within the franchise network, and providing ongoing training and updates to franchisees.
Prospective franchisees should consider the mandatory nature of these summits and conventions, along with the associated costs and potential Non-Attendance Fees, when evaluating the overall financial and operational requirements of a Pearce Bespoke franchise. Understanding the frequency and location of these events, as well as the specific content covered, will help franchisees budget accordingly and ensure compliance with the attendance policy.