On what page of the Pearce Bespoke Franchise Agreement can I find information about the term of the Pearce Bespoke franchise?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
a. To create or offer for sale, any kind of good or service, except that which is specifically provided by or authorized by the Franchisor;
b. To create or offer for sale any kind of goods or services not prescribed by the Franchisor without Franchisor's prior written approval;
c. To open any kind of location-based facility, retail store, or any other type of facility, without Franchisor's prior written approval;
d. To conduct services or sell products in connection with the Pearce Bespoke Franchise other than those services and products authorized for sale by the Franchisor or supplied by its authorized suppliers;
e. To enter into discussions with potential sponsors or promotional partners affecting business outside of the Franchised Territory, without the prior written consent of Franchisor;
f. To publish or use a website in connection with the Pearce Bespoke Franchise, other than a website provided and supported by or through Franchisor or its designee;
g. To create, sell, offer or otherwise distribute marketing materials, other than Franchisor provided materials, without the prior written approval by Franchisor.
2. TERM OF FRANCHISE; RENEWAL RIGHTS
A. Term.
The term of this Agreement will be for ten (10) years commencing on the Effective Date, unless terminated sooner in accordance with the terms hereof.
B. Renewal.
Franchisee will have the right to renew its Pearce Bespoke franchise for the Franchised Territory for two (2) successive five (5) year terms, provided Franchisee meets the following conditions:
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, details regarding the term of the franchise agreement can be found on page 83. Specifically, Section 2(A) outlines that the franchise agreement has a term of ten years, commencing on the effective date, unless terminated earlier in accordance with the agreement's terms.
In practical terms, this means a Pearce Bespoke franchisee can expect to operate their franchise for a decade from the start date, assuming they adhere to the terms and conditions outlined in the franchise agreement. This ten-year term provides a defined period for franchisees to build their business, recoup their investment, and generate profits.
Furthermore, the Pearce Bespoke agreement also includes renewal options. Section 2(B) states that a franchisee has the right to renew the franchise for two successive five-year terms, provided they meet certain conditions. These conditions include providing written notice 180 days before the end of the current term, complying with all material provisions of the agreement, making necessary capital expenditures to modernize the business, assisting with audits, paying a renewal fee, and executing the then-current franchise agreement.