What is the purpose of Southern Steer's review of my proposed lease?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
If You intend to lease a Site for Your Southern Steer Business, You will submit a copy of the proposed lease to Us. We will review the proposed lease for the Site only to determine if the lease complies with the terms of the Franchise Agreement and substantially includes the terms in the Addendum to Lease, which is Attachment G to the Franchise Agreement. You must also sign a Collateral Assignment of Lease, which is Attachment F to the Franchise Agreement. Our review of Your proposed lease will not constitute any business, economic, legal, or real estate advice or analysis.
We can terminate the Franchise Agreement if You fail to provide the Site Information and lease a Site, approved by Us, for Your Southern Steer Business within 90 days after the date of the Franchise Agreement.
Source: Item 11 — ITEM. 11 FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 26–35)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, Southern Steer will review a franchisee's proposed lease to determine if it complies with the terms of the Franchise Agreement and substantially includes the terms in the Addendum to Lease, which is Attachment G to the Franchise Agreement. The franchisee must also sign a Collateral Assignment of Lease, which is Attachment F to the Franchise Agreement.
It is important to note that Southern Steer's review of the proposed lease does not constitute any business, economic, legal, or real estate advice or analysis. The franchisee is responsible for conducting their own due diligence and seeking professional advice regarding the lease terms and conditions.
If a franchisee fails to provide the Site Information and lease a Site, approved by Southern Steer, for their Southern Steer Business within 90 days after the date of the Franchise Agreement, Southern Steer can terminate the Franchise Agreement. This highlights the importance of finding a suitable location and securing an approved lease within the specified timeframe.