d
n
i
M
n
i
p
e
e
Things to K ing Your
w
e
n
e
R
n
e
h
W
3
2015 Issue 1
2 | GearedUp
T
N
E
M
E
E
R
G
FRANCHISE A
30
W
hen deciding whether to become a franchisee, many
franchisees generally dedicate a significant amount
of time and energy into researching the system,
performing due diligence, and, hopefully, reviewing
the terms of the franchise agreement. In my experience, the same is not always true for franchisees renewing their
franchise agreements. Unfortunately, that lack of attention to
detail can have significant negative consequences. Here are three
things a franchisee should keep in mind when renewing a franchise agreement.
First, make sure that you
satisfy the technical requirements related to renewal. For
example, the Planet Fitness
franchise agreement generally requires the
by J. Mark Dady
franchisee to provide Planet Fitness with
written notice that the franchisee wants to
be renewed at least six months, but not more than 12 months,
before the expiration of the current franchise agreement. Make
sure you provide the written notice within that period of time, as
1