Penn Station

Item 8

We require that you use a certified public accountant (or another accountant selected by you to which we have acquiesced after receiving your application to do so) to prepare financial reports and statements required to be completed under the terms of your Franchise Agreement.

Item 11

We have implemented a system which gives us (or our agents or contractors (currently North Key)) independent access (polling) to all daily and periodic sales, costs, financial, delivery, and certain other data collected by your Restaurant’s POS system directly from our headquarters (Franchise Agreement, Section 5.1.4).

Item 11

The Franchisee Advisory Council serves in an advisory capacity only, providing franchisee perspectives on a wide range of System matters, including advertising.

Item 8

We may change, effective immediately upon notice to you, the supplier or suppliers who are authorized or mandated by us for a given Restaurant Operational Item.

Item 8

During calendar year 2024, we did not derive revenue or other material consideration from your required purchases described in this Item 8 except the supplier rebates described below.

Item 8

During calendar year 2024, we received rebates from suppliers with whom we negotiated a purchase arrangement (including pricing terms) on behalf of the System (referred to in this disclosure document as “Supplier Funds”) approximately equal to $ 2,111,454.

Item 8

We estimate that the required purchases described in this Item 8 will constitute approximately 95% of the products and services that you will need to purchase to establish and operate your Penn Station Restaurant.

Item 8

If you desire to purchase (or any supplier designated by you proposes to sell) (i) any Restaurant Operational Items not previously approved by us or (ii) any approved Restaurant Operational Items from a supplier who has not yet been authorized by us, then you must submit to us the Restaurant Operational Item (if…

Item 11

It is your obligation to ensure that your POS system meets applicable data security standards imposed by the card associations, any governmental authorities, and your insurers.

Item 11

Perform periodically Performance Evaluations of your Restaurant (Franchise Agreement, Section 5.1.4).

Item 11

We have the right to modify our Operating Manual periodically and to supplement it with periodic bulletins.

Item 11

You are responsible for selecting your site, but we have the ultimate right to decide whether to consent to or disapprove of any site.

Item 7

We require you to spend up to $10,000 for Grand Opening Advertising.

Item 11

then you must participate in that advertising cooperative and pay your required contribution to the cooperative

Item 8

We mandate the use of certain authorized suppliers, including manufacturers, for selected Restaurant Operational Items.

Item 8

If you propose to purchase any item of the Restaurant Improvements which is equipment (large or small) or signage from any supplier who has not been previously authorized by us, then you must seek our consent to use that supplier in the same manner discussed earlier in this Item 8.

Item 6

Penn Station collects certain fees and payments owing to Penn Station or P.S. National Fund by electronic debit (e.g., automated clearinghouse transactions).

Item 15

If you own more than one Penn Station Franchise, then you must use a separate qualified General Manager to be the on-site supervisor of the operation of each of your Restaurants in accordance with your Franchise Agreements.

Item 11

You must purchase and maintain a complete North Key POS system, which meets our current specifications, for your Restaurants (Franchise Agreement, Section 1.3.2).

Item 11

We have implemented a system which gives us (or our agents or contractors (currently North Key)) independent access (polling) to all daily and periodic sales, costs, financial, delivery, and certain other data collected by your Restaurant’s POS system directly from our headquarters (Franchise Agreement, Section 5.1.4).

Item 6

If we determine, as part of our testing process, that the General Manager you trained needs additional training, we may require you, at your cost, to send the General Manager to a Restaurant selected by us for additional training.

Item 11

In addition to the annual, general conference of all franchisees that your Managing Owner must attend, your Managing Owner, Operations Director, and General Manager(s) must attend an annual summary meeting.