What is the usual term of a Bulk Barn Franchise Agreement?
The Franchise Agreement has an initial term to operate a Bulk Barn store at the premises for a period equal to the lesser of ten (10) years or the term of the head-lease (excluding renewals) for the premises. Subject to the franchisee satisfying certain conditions as outlined in the Franchise Agreement, there is an option to renew for an additional term equal to the lesser of ten (10) years or the term of the head-lease extension/renewal for the premises. At the time of renewal, the franchisee is required to pay a franchise renewal fee as outlined in the Franchise Agreement.
