iTrip

Can you provide details on the 3 unit closures in 2024 and the circumstances that led to each closure?

The technology fee of $540 monthly is above the typical range for this category. What specific services and technology are included in this fee, and how has this fee changed over the past 3 years?

Your reported median gross sales of $1,168,320 is substantially higher than comparable real estate service franchises. What percentage of franchisees achieve this median sales figure, and what are the ranges (25th percentile, 75th percentile)?

The agreement specifies a minimum performance requirement of $1,000,000 in total rental revenue after 3 years of operation. What percentage of franchisees fail to meet this benchmark, and what are the consequences?

You list 25 termination causes in the agreement, which is above the typical range. Can you identify which causes are most frequently invoked and provide examples of recent terminations?

The renewal conditions include requirements to 'renovate and modernize premises.' What is the estimated cost range for these mandatory renovations, and are there flexibility or exemption options?

Personal guarantees are required from all owners and their spouses. Are there any circumstances under which this requirement can be waived or modified?

The non-compete restricts activity within 50 miles of any system territory for 2 years post-termination. How is 'system territory' defined, and could this theoretically restrict a franchisee across a very large geographic area?

Can you provide a detailed breakdown of the 4 transferred units in 2023 and 1 transferred unit in 2024? Were these transfers approved by the franchisor, and did transfer fees apply?

The agreement includes the right to control proprietary product distribution and pricing for approved services and products. What percentage of franchisee revenue typically comes from products subject to this franchisor pricing control?

Interest on late payments is set at 1.5% above prime rate. What has the historical payment delinquency rate been across the franchise system?

What support and training resources are provided to help franchisees reach and exceed the $1,000,000 minimum revenue threshold in their first 3 years?

The total potential term of 30 years is above the typical range. Are there any circumstances under which the franchisor can decline renewal despite franchisees meeting all renewal conditions?

Approved suppliers must be used for 8 categories of items. Can you provide the complete list of these 8 categories and confirm whether pricing from approved suppliers is competitive with alternative sources?

Have there been any changes to the technology fee, royalty structure, or other material fee components since the franchise system was established?

Regarding the 3 'ceased other' units in 2024 and 1 in each prior year: what circumstances define 'ceased other,' and why weren't these classified as closures or transfers?

The agreement includes personal guarantees from spouses of all owners. If a divorce or separation occurs, are there provisions to remove a spouse's guarantee from the franchise obligations?

Can you explain the relationship between the $10,000 transfer fee and the $5,000 renewal fee, and whether both apply when a franchisee renews and wishes to transfer the franchise to a successor?