Statement of Policy
MAD Academy recognises there will be times when a Franchisee may want to expand their business into new territories by purchasing additional postcode areas. MAD Academy wish to make this process as smooth and quick as possible to ensure the existing business in question continues to operate successfully.
Procedure for Purchasing Extra Postcode Areas
- Any franchisee wishing to purchase further postcode areas must first request to reserve the area they are interested in. This must be done in writing (letter or email) to MAD Academy.
- MAD Academy will confirm in writing whether the requested postcodes are available for purchase or will suggest alternatives if possible. MAD Academy will also declare what minimum class numbers will be associated with the specified area and what the purchase price would be.
- The agreed area can be reserved for up to 1 year. When the franchisee is ready to pursue the purchase, they must first supply Head Office with a detailed business plan. This plan must show how the expansion will be managed with realistic timeframes.
- Should someone else express an interest in any part of the reserved area during the course of the reservation period, Head Office will notify the franchisee and offer them first refusal. The franchisee must agree to proceed with the purchase within one month of this notification after which time the alternative prospective buyer will be offered the opportunity to complete the purchase.