Who must prepare the feasibility study for a relocated or remodeled Punch King Fitness site?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
For your Site, we provide building specifications for your real property space, we review your design plans, you must retain a licensed architect, and you must obtain a feasibility study prepared by a qualified third party for the site of your Franchised Business upon relocation or remodeling or updating upon relocation. (Section IV of the Franchise Agreement).
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 28–35)
What This Means (2024 FDD)
According to Punch King Fitness's 2024 Franchise Disclosure Document, if a franchisee relocates, remodels, or updates their site, they must obtain a feasibility study. This study must be prepared by a qualified third party. Punch King Fitness provides building specifications and reviews the franchisee's design plans, and the franchisee must retain a licensed architect.
This means that while Punch King Fitness offers some assistance with site selection and design, the responsibility for securing an independent assessment of the site's viability rests solely with the franchisee. The use of a "qualified third party" emphasizes that the study must be objective and unbiased, providing the franchisee with a realistic view of the potential success of the location after relocation or remodeling.
Prospective Punch King Fitness franchisees should carefully consider the costs associated with obtaining a feasibility study, as this is an expense they will bear. They should also ensure that the third party they engage is truly qualified and has experience in assessing the viability of fitness center locations. This requirement is in place to help ensure the franchisee makes an informed decision about the location and potential profitability of their Punch King Fitness franchise.