The given information states that UTS required a franchise on July 1, 2024, by paying an initial franchise fee of $333,000. The contractual life of the franchise is nine years.
This means that UTS has entered into a franchise agreement for a period of nine years starting from July 1, 2024. The initial franchise fee paid by UTS is $333,000.
During this contractual period, UTS will have the right to operate a franchise of the specified brand or business. They will also have access to the support, branding, and other benefits provided by the franchisor.
It is important to note that the given information does not provide any further details about the terms and conditions of the franchise agreement, ongoing fees, or any other obligations that UTS may have as a franchisee. These details would be specified in the franchise agreement between UTS and the franchisor.