What documents must be included in the site approval package (SAP) for a Punch King Fitness franchise?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
- 5. Within sixty (60) days after the execution of the Franchise Agreement, Franchisee shall submit to Franchisor, in a form specified by Franchisor, a completed site approval package, which shall include a site approval form prescribed by Franchisor, an option contract, a letter of intent, or other evidence satisfactory to Franchisor which describes Franchisee's favorable prospects for obtaining such site, photographs of the site, demographic statistics, and such other information or materials as Franchisor may reasonably require (collectively, the SAP).
Franchisee acknowledges that time is of the essence.
Franchisor shall have thirty (30) days after receipt of the SAP from Franchisee to approve or disapprove, in its sole discretion, the proposed site for the Franchised Business.
In the event Franchisor does not approve a proposed site by written notice to Franchisee within said thirty (30) days, such site shall be deemed disapproved by Franchisor.
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, franchisees must submit a completed site approval package (SAP) to the franchisor within 60 days of executing the Franchise Agreement. This package is crucial for Punch King Fitness to assess and approve the proposed location for the franchised business. The franchisor retains sole discretion over site approval.
The SAP must include a site approval form prescribed by Punch King Fitness, along with either an option contract, a letter of intent, or other evidence that demonstrates the franchisee's favorable prospects for securing the site. Additionally, the package must contain photographs of the site and demographic statistics relevant to the location.
Beyond these specific items, Punch King Fitness can reasonably request other information or materials as part of the SAP. Franchisees should ensure they understand all requirements and gather comprehensive documentation to avoid delays or disapproval. Punch King Fitness will then evaluate the SAP within 30 days of receipt, and failure to provide written approval within this timeframe results in automatic disapproval of the site.