How long does Punch King Fitness take to notify a franchisee of the approval or disapproval of a supplier?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
To approve a supplier, we require a sample of the product(s), information regarding the product or service's quality standards, availability, terms and conditions of purchase, and other information we may request. If desired, we may request a physical inspection of the supplier's place of business or manufacturing facility. Upon submitting samples and information required for approval, we will notify you within 30 days of our approval or disapproval of a supplier. As a condition of approval, we require reimbursing any costs or expenses we incur in approving the supplier. We may revoke the approval of any supplier upon 30 days' written notice to franchisees.
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 22–25)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, after a franchisee submits the required samples and information for a potential supplier's approval, Punch King Fitness will notify the franchisee of their decision within 30 days. This timeframe applies to both approvals and disapprovals of the supplier.
This notification period is important for prospective Punch King Fitness franchisees because it sets expectations for how long the approval process will take. Franchisees need to factor this 30-day window into their planning when sourcing products or services from new suppliers. This ensures they can maintain operations without delays caused by waiting for supplier approval.
It's also important to note that Punch King Fitness requires franchisees to reimburse any costs or expenses incurred during the supplier approval process. This could include the cost of physical inspections or other due diligence activities. Franchisees should clarify what these costs might entail to budget accordingly. Punch King Fitness also retains the right to revoke supplier approval with 30 days' written notice to franchisees, which could necessitate finding a new supplier on short notice.