What is the highest interest rate allowed by law in California for Punch King Fitness?

According to Punch King Fitness's 2024 Franchise Disclosure Document, the maximum legal interest rate that can be charged annually in California is 10%. This disclosure is specific to California franchisees and is outlined in the California State Addendum.

For a prospective Punch King Fitness franchisee in California, this means that any financial obligations or agreements they enter into related to the franchise, such as loans or deferred payments, cannot legally exceed a 10% annual interest rate. This protection is provided under California law.

It is important for franchisees to be aware of this limit when reviewing any financing options or payment plans offered by Punch King Fitness or third-party lenders. Exceeding this interest rate would be a violation of California law and could have legal consequences for the party charging the excessive rate.