How many years does the Southern Steer franchise agreement last?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
L, TERMINATION, TRANSFER AND DISPUTE RESOLUTION
THE FRANCHISE RELATIONSHIP
This table lists certain important provisions of the Franchise Agreement and related agreements. You should read these provisions in the agreements attached to this Disclosure Document.
| Provision | Agreement | Summary | |
|---|---|---|---|
| a. | Length of the franchise term | 2.1 | 10 years beginning as of the Effective Date (which may be extended under certain circumstances to coincide with the term of the lease for Your Southern Steer Business, as described in Section 2.1 of the Franchise Agreement). |
| b. | Renewal or extension of the term | 2.2 | One additional 10-year term. |
| c. | Requirements for franchisee to renew or extend | 2.2 Section in Franchise | You must: give written notice at least 180, but not more than 365 days before expiration; have complied with all material terms and conditions of Your current Franchise Agreement; have paid all monetary obligations owed to Us during the term of the Franchise Agreement; agree in writing to remodel Your Southern Steer Business (and provide evidence of Your financial capability to make such expenditures); have the right to continue to occupy the premises for the Southern Steer Business for at least five additional years;; pay the Successor Franchise Fee; execute a general release of claims against Us, Our parent, subsidiaries, affiliates, and related people; and You and Your Designated Manager must complete the required training. You will sign a new Successor Franchise Agreement which may have materially different terms and conditions than Your original |
| Provision | Agreement | Summary Franchise Agreement. |
Source: Item 17 — ITEM. 17 RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 43–50)
What This Means (2025 FDD)
According to Southern Steer's 2025 Franchise Disclosure Document, the initial term of the franchise agreement is 10 years, beginning on the Effective Date. The Effective Date may be extended under certain circumstances to coincide with the term of the lease for the Southern Steer Business.
Southern Steer offers franchisees the option to renew the franchise agreement for one additional term of 10 years. To renew, franchisees must provide written notice at least 180, but not more than 365 days before the expiration of the current term. They must also comply with all material terms and conditions of the existing Franchise Agreement and have paid all monetary obligations owed to Southern Steer during the term.
Additional requirements for renewal include agreeing in writing to remodel the Southern Steer Business and providing evidence of the financial capability to do so. The franchisee must also have the right to continue occupying the premises for at least five additional years, pay the Successor Franchise Fee, and execute a general release of claims against Southern Steer and its affiliates. Both the franchisee and their Designated Manager must complete required training, and the franchisee must have all necessary licenses, insurance, registrations, and approvals to operate the Southern Steer Business in the Protected Area. Upon renewal, a new Successor Franchise Agreement will be signed, which may contain materially different terms and conditions than the original agreement.