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Golds gym franchise disclosure document

A complete description of the business to be franchised. From July until December , Mr. The franchisor is Gold's Gym Franchising, Inc. You
should investigate these laws. You will offer your products and services to the general public throughout the year. Any relevant litigation history of
the company or its officers. The Annual Fees for the remaining years are described in Item 6. The process can be intimidating and frustrating, yet
the rewards also include name recognition and expanding their brand across the nation and potentially the globe with no capital of their own. The
journey to becoming a successful franchisor starts with an excellent business model that turns into a legal negotiating instrument. The Facility's
premises must be at least 15, square feet and depending on your Territory could be up to 26, square feet. There are certain states that require the
registration of a FDD before the franchisor can advertise or offer the franchise in that state. Visit with a sufficient number of the existing franchisees
to ensure you have a sense of the prevailing attitudes of the group. The Free Franchise Resource Center. Administrative Fees and Interest on
Delinquent Payments. Only our Charter Franchisees have the right to sign a Charter Franchise Agreement for new Gold's Gym Facilities, and they
have this right only for this limited 3-year period. Th e complaint se e ks injunctiv e r e lief, unsp e cifi e d comp e nsatory and punitive damages,
attorn e ys' fe e s, and court costs. Charter Franchise Agreement 4. Schultz has been our Chief Financial Officer since October Although you want
to find the overwhelming majority of franchisees to be happy and supportive of the franchisor, it is important to try to find an unhappy franchisee
during your investigation. The FDD can be very lengthy and range from a few hundred pages to several hundred based on the business type. You
currently must pay for our evaluations upon the Facility's relocation and if we re-inspect the Facility to determine whether you have corrected
deficiencies. If you or we terminat e th e Pr e liminary Agr e em e nt during the first 30 days after signing it, we will r e fund without interest all of
your Pr e liminary Fe e. Due under Standard Franchise Agreement only if the consideration for a proposed transfer is privately-held ownership
interests or a note, and we seek to have that consideration's true value determined by an objective third party. We've served thousands of satisfied
customers over our seven years in business. Certain states have passed laws relating specifically to health clubs, including laws requiring postings
concerning steroids and other drug use, limiting the supplements that health clubs can sell, requiring bonds if a health club sells multi-year
memberships, requiring club owners to deposit into escrow certain amounts collected from members before the club opens so-called "pre-sale"
memberships , and imposing other restrictions on memberships that health. All fees are non-refundable. Our lawyer-edited, easy-to-use templates
have made it simple and affordable for more than top franchise law firms across the US and Canada to create these important documents. Neither
we nor our Predecessor, nor our or its affiliates or other related companies, have offered franchises or licenses in any other lines of business.
Owning a franchise is a very different experience depending on the brand. If you have paid us a Security D e posit under your old fonn of franchise
or license agr e em e nt, we may r e tain th e Security Deposit und e r th e Charter Franchi s e Agr ee ment. If we have an agent for service of
process in your state, we disclose that agent in Exhibit 1. This includes amounts for your personnel's lodging, transportation, and meals while they
attend our management training school. In other words, under our current guidelines, for all goods and services other than et ffGold's Gym logoed
merchandise and Website-related services, any supplier whose goods and services meet our System Standards is considered an "approved
supplier. Annual Fees are not refundable. The original documents were scanned as an image. All obligations of either party to the other during the
term of the agreement and thereafter. A related company, Gold's Holding Corp. You only will onlyjnake Monthly Fee payments during the
Standard Franchise Agreement's year term or 60 Monthly Fee payments during the Standard Franchise Agreement's 5-year term. Travel and
Living Expenses During Training for all attendees 2. We will train up to 2 people from the Facility including you and your general manager at no
additional charge. Even if it is included in the FDD, it is still imperative that you discuss this subject with franchisees during your fact-finding calls
and visits. Only our Charter Franchisees from whom w e r e c e ived all required information by April 27, hav e th e right to sign th e Charter
Franchis e Agre e m e nt. We currently conduct one evaluation per year at no charge, but we have in the past, and may in the future, charge the
evaluation fee for these annual evaluations. The temptation can be described best as going into a bakery where they smell the fresh baked goods
and look at the mouthwatering delicious selection - they salivate and want to try several of the items but they can't until they hand over some cash.
In addition, the plaintiff alleges that we and our affiliate breached a non disclosure agre e ment with it and that all d e f e ndants committ e d fraud.
Depending on the lease terms, your landlord might cover some of these costs. Moore's Fitness World Cincinnati.

Golds Gym FDD Summary


We currently conduct one evaluation per year at no charge, but we have in the past, and may in the future, charge the evaluation fee for these
annual evaluations. Where applicable, this offering circular describes the differences between the Standard Franchise Agreement and the "Charter
Franchise Agreement. Some law firms also offer additional services, such as accounting and business services. When the franchisor embarks on
their journey to financial wealth through the sale of new franchises, they will know all their hard work and initial capital was well worth it. Th e
parties are engaging in discovery. From July until December , Mr. If you sign a Development Rights Agreement, then, in addition to the amounts
required for each Facility you develop, you must pay the development fee described in Item 5. Upon termination of the Franchise Agreement
before it expires. Actual costs depend on location, the condition of the premises being remodeled, economic factors, and the Facility's size. The
discounts we receive will depend on our negotiations with these suppliers. We also expect to receive better pricing from suppliers on certain items
than our franchisees receive because of volume discounts and our ability to display or showcase items at Gold's Gym Facilities that GHC or its
subsidiaries operate. Charter Franchisees do not pay this fee. However, the process will hit fewer roadblocks with substantial research and a
methodical analysis of your options. We may t e rminat e the Preliminary Agre e ment: However, you will not pay any Annual Fe e s under the
Charter Franchise Agreement until the first Anniversary Date after you sign the Charter Franchise Agreement, at which time you must pay the s
econd year Annual F e e. The Site may be in a rural or metropolitan area as long as we think there is a sufficient market in the area for the Facility's
services. The form and composition of the document is standard with any franchisor and must include information on various topics of interest to
you. Annual Fees ar e not refundable. A list of the existing franchisees. If we have an agent for service of process in your state, we disclose that
agent in Exhibit 1. Payable if we incur costs as a result of your noncompliance with Franchise Agreement or Development Rights Agreement. They
seek unspecified compensatory and punitive damages, court costs, and attorneys' fees. The availability and terms of financing depend on many
factors, including the availability of financing generally, your creditworthiness and collateral, and lending policies of financial institutions. Any
relevant litigation history of the company or its officers. You must pay us a lump sum development fee when you sign the Development Rights
Agreement. Franchisors in all 14 registration states actively use our franchise disclosure documents. The case is in the discovery phase. A few
franchisors also include a financial performance representation commonly referred to as an earnings claim in the FDD document. We and the other
d e f e ndant s deny the allegations and are vigorously defending the action. Now you can leverage the tools used by "the big guys" yourself, no
matter what kind of franchise you're launching. You will sign the Chart e r Franchis e Agre e ment or a substantially similar form of agreement for
that franchise, but that Agr e ement will not grant you any rights with respect to additional Gold's Gym Facilities- Charges for Training. You should
approach the franchise opportunity with a business mindset, weighing the pros and cons, and analyzing your personal skill set. Alleging that our
franchise e s ar e our and our affiliate's "agents," the plaintiff claims that we and our affiliat e likewis e violat e d the Ohio D e ceptive Trade Practic
e s Act. We have no other business activities except as described above. The form of franchise agreement that you will sign depends on whether
you are a Charter Franchisee and whether we grant you development rights. Only our Charter Franchisees have the right to sign a Charter
Franchise Agreement for new Gold's Gym Facilities, and they have this right only for this limited 3-year period. Other than these laws, there are no
regulations specific to the operation of a Gold's Gym Facility, but you must comply with all applicable local, state, and federal laws that apply
generally to all businesses. Under the Standard Franchise Agreement, because its standard term is 10 years rather than 5 years under the Charter
Franchise Agreement , we may periodically increase your contribution, on 30 days' prior written notice to you, by: In other words, under our
current guidelines, for all goods and services other than et ffGold's Gym logoed merchandise and Website-related services, any supplier whose
goods and services meet our System Standards is considered an "approved supplier. The principal business address of Hastings Group was N.
Certain legal requirements come in to play when starting a franchise, such as including audited financials. Our consultants can save you even more
time by completing and customizing your documents for you. If you're wondering "how much is a GOLD'S GYM franchise," then you probably
have many other questions you want answered before you become a franchisee. You should review these figures carefully with a business advisor
before deciding to acquire the franchise. Neither we nor our Predecessor, nor our or its affiliates or other related companies, have offered
franchises or licenses in any other lines of business. Terms of Service Privacy Policy Advertise. We grant franchises to operate, and in certain areas
development rights to develop and operate, health clubs called "Gold's Gym Facilities" offering various fitness, health, and exercise facilities, goods,
and services under our trademarks, service marks, and trade names the "Marks" and following our mandatory and suggested specifications,
standards, operating procedures, and rules the "System Standards". The Franchise Agreement does not require you to advertise the Facility's
grand opening, but we strongly recommend that you do so. We do not offer financing directly or indirectly for any part of the initial investment.
However, the figures in the table reflect our estimates for a newly-constructed 25, square foot Facility. Fees can increase depending on the
business size, services and products offered and how much documentation is provided by the franchisor. All fees are non-refundable. If you
operate under the Charter Franchise Agreement, we may institute an automatic debit program only at your request or if you fail to make Annual
Fee or other payments on time. Certain states have passed laws relating specifically to health clubs, including laws requiring postings concerning
steroids and other drug use, limiting the supplements that health clubs can sell, requiring bonds if a health club sells multi-year memberships,
requiring club owners to deposit into escrow certain amounts collected from members before the club opens so-called "pre-sale" memberships ,
and imposing other restrictions on memberships that health. Our template is simple to use and completely customizable, providing a franchise
agreement that fits your business and protects your interests. We call these franchisees who converted their agreements our "Charter Franchisees.

Franchise Disclosure Document Template, Franchise Agreement


Each of these Acts contains broad definitions of what constitutes a franchise, and as a result, many distribution disclowure dealership arrangements
may also be subject to their requirements. For companies new to franchising, there are three key documents needed in order to set up a franchise,
they include: It's one more way to franchise smart. Whether you're writing your first FDD or updating your disclosure document tranchise comply
with FTC rules, our template is a cost-effective, easy-to-use solution. Since Golds gym franchise disclosure documentMr. Within 4 5 days
after th e Chart e r Franchis e Agreem e nt e xpires or after golds gym franchise disclosure document terminat e the Agreement for cause, we
will return any unus e d portion of the Security D e posit. In this offering circular, we call your Gold's Gym Facility the "Facility. Th e complaint se e
ks injunctiv e r e lief, unsp e cifi e d comp e nsatory and punitive damages, attorn e ys' fe e s, and court costs. We currently recommend suppliers
for certain products that you must buy or lease to open and operate the Facility including insurance companies and exercise equipment
vendorsfranchiwe we do not require you to deal with these recommended suppliers. Estimated Initial Investments Under Development Rights
Agreement If you dkcument a Development Rights Agreement, then, in addition to the amounts required for each Facility you develop, you must
pay the development fee described in Item 5. The offer and sale of a franchise can only be made through the delivery and receipt of a Franchise
Disclosure Document FDD. Fees can increase depending on the business size, services and products offered and how vranchise documentation is
provided by golds gym franchise disclosure document franchisor. Covers our out-of-pocket costs, including travel expenses and testing fees.
Your Facility cocument compete with other health clubs and businesses that offer similar products and services, including other national chains.
Franchisors in all 14 registration states actively use our franchise disclosure documents. You should investigate these laws. Golds gym franchise
disclosure document only if we terminate for cause or you terminate without cause other than in connection with a proposed transfer. We've
served thousands of satisfied customers golds gym franchise disclosure document our seven years in business. These figures are estimates, and
we cannot franchize that you will not have additional expenses in starting to operate your Facility. If you operate under discoosure Standard
Franchise Agreement, you must sign and deliver to us the documents we require to authorize us to debit your business checking account
automatically for the Monthly Fee and other frajchise due under the Standard Franchise Agreement or any related agreement between us or our
affiliates eocument you. You must reimburse us if we are held liable for claims arising documemt your Facility's operation or your breach of the
Franchise Agreement or Development Rights Agreement. You will sign the Chart e r Franchis e Agre e ment or a substantially similar form of
agreement for that franchise, but that Agr e ement will not grant you any rights with respect to additional Gold's Gym Facilities- Charges for
Training We will train up to 2 people from the Facility including you and your general golds gym franchise disclosure document at no additional
charge. Th e parties are engaging in discovery. They seek unspecified compensatory and ggm damages, court costs, and attorneys' doument.
Administrative Fees and Interest on Delinquent Payments. See Item golds gym franchise disclosure document The estimates are for 2 to 5
individuals attending our management training school for 5 days and 4 nights. Payable before transfer of the Franchise Agreement, the Facility, or
any controlling ownership interest in you or the Facility. Franxhise you sign a Development Rights Golds gym franchise disclosure document,
then, in addition to documennt amounts required for each Facility you develop, you must pay the development fee described in Item 5. This item
golds gym franchise disclosure document your initial start-up expenses other than the items identified separately in the table for your Facility's
first 3 months of operation, including miscellaneous supplies, inventory and equipment, laundry and janitorial services, payroll costs but not any
draw or salary for youand other miscellaneous costs. Chairman of the Board of Directors: You would hav e paid an Annual F ee on the previous
Doocument Date under your old form of agreement that e s s entially will cover th e Annual Fee due for the portion gllds th e first y e ar of th e
Chart e r Franchise Golds gym franchise disclosure document e nt's term that begins when you sign the Charter Franchis e Agr e ement and e
nds on the following Anniversary Dat e. You begin paying promotion fun d Promotion Fund contributions on the date that your first Monthly Fee
payment is due see note 2 above. Other than this one action, no person identified in Item 1, documeny no officer identified in Item 2, of this
offering circular has been involved as a debtor in proceedings under the U. Many of these franchisees golds gym franchise disclosure
document our offer by submitting the required forms by the April 27, deadlin e. You only will onlyjnake Monthly Fee payments discllosure the
Standard Franchise Agreement's year term or 60 Monthly Fee payments during the Standard Franchise Agreement's 5-year term. Let us do the
work. Preliminary Agre e ment for Charter Franchis e es6. The principal business address of Hastings Group was N. This complete starter
package contains our FDD and disclowure agreement templates, plus our comprehensive operations manual template. For exampl eif your
Anniversary Dat e under your old form of agre e ment is Jun e 30 and you sign th e Chart e r Franchise Agreement on Sept e mber 30 to r e place
your old form of agreement, the first year of golds gym franchise disclosure document term under your Charter Franchise Agr ee ment will e
nd on th e following June 30, which i s your original Anniv e rsary Date. The franchisee as an investor goes into business with all the necessary
information and tools to mirror the franchisor's brand - without all the headache of starting a business from scratch. The Free Franchise Resource
Center.