Miniso

What specific circumstances led to the 7.7% termination rate, and were these terminations franchisor-initiated or franchisee-requested?

Given the 0.0% turnover and closure rates over the past 3 years alongside rapid unit growth, how are these metrics calculated and verified?

Can you provide specific examples of franchisees who have renewed their contracts, and what percentage of eligible franchisees actually renew?

The initial contract term is only 3 years compared to the typical 10-year term in this category—what is the business rationale for this shorter term?

What are the 9 specific renewal conditions referenced in the contract, and how often do franchisees fail to meet them?

Since territory is non-exclusive with no encroachment protection, can the franchisor or other franchisees open competing Miniso locations near my store?

The non-compete clause covers a 2-year, 10-mile radius and includes selling fast fashion clothing and accessories—how broadly does this restrict post-franchise activity?

Can you provide the financial performance data (Item 19) for existing franchisees, broken down by location type, region, or years in operation?

The renewal fee is 50% of the then-current franchise fee—if the franchise fee increases significantly, how would this impact renewal decisions?

What mandatory remodeling or capital expenditure requirements apply at renewal, and what are typical costs?

Why are personal and spousal guarantees required from all franchisee owners, and can these be limited or negotiated?

Miniso Depot CA, Inc. is the sole supplier for all products—what pricing controls exist, and can franchisees negotiate volume discounts or alternative suppliers?

How has the system achieved 54.89% 3-year CAGR, and is this growth driven by new franchisee recruitment, company-owned locations, or existing unit expansion?

What support and training services justify the 100/100 category score, and are these included in the franchise fee or charged separately?

The 17 types of non-curable defaults that permit immediate termination—can you provide examples and clarify how these are defined?

What happens to franchisee obligations if Miniso's headquarters or supplier network experiences disruption or changes?

Are there any pending disputes, complaints, or regulatory actions against Miniso that are not yet litigated but under investigation?

How does the franchisor handle disputes regarding territory encroachment, competitive product placement, or supplier pricing given the non-exclusive territory?

What is the average unit volume (AUV) and profit margin for mature franchisees (3+ years in operation) by region?

Given the short 3-year initial term, what circumstances would trigger early termination, and what is the notice period and exit process?