No Mas Vello Franchise Cost & Fees
Date Incorporation: 2007
Franchising Since: 2007
U.S. Headquarters: Glendale, Colorado
Country of Origin: Spain
Business Description: No Mas Vello (No+Vello) centers are med-spas that offer intense pulsed light (IPL) hair removal services for a flat rate. The non-medical Centers provide hair removal and photo rejuvenation and related products and services, and other products and services approved from time to time (known as “non-medical”). The medical Centers, which are offered exclusively to medically trained individuals, provide additional services, namely skin depigmentation treatment, vascular therapy and anti-acne treatments, and other services approved from time to time (known as “medical”).
Franchise Offer: No Mas Vello USA, Inc. offers master franchises for qualified individuals and entities to market and sell No Mas Vello franchises in a protected territory. Depending upon the state and local regulations governing the business in the franchisee’s state, he or she will offer for sale and assist in opening and ongoing support of either a medical or non-medical center.
Financial Assistance: The franchisor does not offer direct or indirect financing, nor does it guarantee any of the franchisee’s notes, leases or obligations.
Training and Assistance: The franchisor will provide initial training to the Managing Owner and any of employees or owners that it designates. Each such person must attend and successfully complete the 4-day initial training program that all No+Vello franchisees are required to attend, plus 1 day of additional training that provided to the Managing Owner and franchise sales personnel with respect to the operation of the master franchise business. In order to maintain the uniformity and high standards of services and products offered by No+Vello franchisees or if the franchisor changes these services or products, the franchisor may require that the Managing Owner and employees attend periodic refresher and/or advanced training courses at US headquarters in Denver or at another location designated.
Territory: During the term of the Master Franchise Agreement, the franchisor will not: (i) grant master franchise rights to any other person for the Territory; or (ii) offer or sell, or grant rights to third parties to offer or sell, No+Vello franchises in the Territory.
Term of Agreement and Renewal: The length of the initial franchise term is 15 years from the effective date of Agreement. Renewal is for one 5-year successor term, if requirements are met.
Obligations and Restrictions: The franchisee and subfranchisees must offer all goods and services that required. The Managing Owner must use his or her best efforts and dedicate his or her full time efforts to the master franchise business. The franchisee may not transfer any of the Managing Owner's responsibilities to a Substitute Managing Owner without prior written consent. The Managing Owner must directly own and control at least 51% of the franchisee’s equity interests at all times during the term of the Master Franchise Agreement. If the franchisee operates a non-medical Center, an owner must be trained and complete the initial training course successfully. Nevertheless, the franchisee may hire a manager to assume responsibility for the daily supervision and operation of the Center, but only if the Manager successfully completes the initial training program and signs a Noncompetition, Nondisclosure and Nonsolicitation Agreement. If the franchisee operates a medical Center, the franchisee must designate 1 or more of the owners who is a licensed physician or other licensed medical professional authorized under the laws of the franchisee’s state to perform the medical services offered by the Center and who will assume responsibility for the daily supervision and operation of the Center. If the franchisee fails to comply with Minimum Development Obligations and is unable to cure such noncompliance within 30 days' after receiving notice from the franchisor, it may, in its sole and absolute discretion, either terminate the franchisee's exclusive rights for the Territory or terminate the Master Franchise Agreement.
Estimated Number of Units: 900
The above information has been taken from the FDD of No Mas Vello and company submitted data.
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