When must the Pearce Bespoke renewal fee be paid?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
ion with any such audit are payable upon demand by Franchisee prior to the expiration of the then existing term, including any audit costs, transportation, lodging, meals, and any other expenses incurred.
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- Franchisee has paid a Renewal Fee equal to the greater of (i) Five Thousand Dollars ($5,00
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, a franchisee must pay the renewal fee at least thirty (30) days before the expiration of the initial or any renewal term of the Franchise Agreement. The renewal fee is the greater of $5,000 or 25% of the then-current franchise fee.
To renew their Pearce Bespoke franchise, franchisees must also provide written notice of their intent to renew at least 180 days before the end of the current term. They must also comply with all material provisions of the Franchise Agreement, including all payment obligations. Franchisees must also adhere to Pearce Bespoke's operating and brand standards and make any necessary capital expenditures to modernize their business to meet current brand requirements.
Pearce Bespoke, at its discretion, may also require an audit of the franchise to ensure compliance with brand standards. Franchisees are responsible for covering the costs of this audit, including transportation, lodging, and meals, if any deficiencies are found. Franchisees must also execute the then-current Franchise Agreement before the expiration of the existing term.
Failure to meet any of these renewal conditions within the specified timeframes may allow Pearce Bespoke to permit renewal at its discretion, subject to a late renewal administration charge of $500, in addition to the renewal fee.