What kind of agreements does Precision Door Service SPV LLC hold?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
Assetco holds all the equity interests in the SPV Franchisors and the Non-Franchisor SPV Entities, certain intellectual property, certain license agreements and certain vendor agreements. Each SPV Franchisor holds the tradenames and the franchise agreements related to such brand and any product supply agreements or vendor agreements related to such brand.
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to the 2025 FDD, Precision Door Service SPV LLC, like other SPV Franchisors, holds specific agreements related to its brand. These include the tradenames and franchise agreements associated with the Precision Door Service brand. Additionally, Precision Door Service SPV LLC holds any product supply agreements or vendor agreements that are related to the brand.
In essence, Precision Door Service SPV LLC owns the legal rights and agreements necessary to operate and franchise the Precision Door Service brand. This structure is typical in franchising, where a specific entity is created to manage the franchise-related assets and agreements.
For a prospective Precision Door Service franchisee, this means that the franchise agreement they enter into is with Precision Door Service SPV LLC. Any obligations or rights related to product supply or vendor relationships are also governed by agreements held by this entity. It's important for franchisees to understand the role of the SPV Franchisor in the overall franchise system, as it is the direct legal entity they are contracting with.