What is Exhibit 2 in the Punch King Fitness franchise agreement?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
EXHIBIT 2. SITE AND TERRITORY
TO THE PUNCH KING FITNESS FRANCHISE AGREEMENT
- The address and/or description of the Site for the Franchised Business shall be: 2. The Territory referenced in the Franchise Agreement shall consist of the following geographical area in the State of: Franchisor and Franchisee further agree that this Exhibit shall be attached to, incorporated in, and made a part of said Franchise Agreement between Franchisor and Franchisee. IN WITNESS WHEREOF, the parties hereto have executed this Agreement or caused this Agreement to be executed by their duly authorized agents as of the date first written above. FRANCHISOR: PUNCH KING FITNESS, INC. INDIVIDUAL FRANCHISEE: INDIVIDUAL FRANCHISEE: Print Name Print Name Date: Date:
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, Exhibit 2 to the franchise agreement pertains to the site and territory of the franchised business. This exhibit includes the address or description of the site for the Punch King Fitness location. It also defines the specific geographical area that constitutes the franchisee's territory within a particular state.
This exhibit is a crucial component of the franchise agreement as it clearly defines the physical location and operational boundaries granted to the franchisee. By outlining the territory, Punch King Fitness and the franchisee establish the franchisee's exclusive rights (if any) to operate within a specific area, which can impact the franchisee's potential customer base and market reach.
Both Punch King Fitness and the franchisee must agree to and incorporate this exhibit into the franchise agreement, signifying their mutual understanding and acceptance of the site and territory terms. This agreement is formalized with signatures from both parties, indicating their commitment to the conditions outlined in Exhibit 2.