After installing and activating the recommended plugins for this theme it is also recommended that you go to Settings > Permalinks. This is where you can change your permalink structure. After selecting the format you would like to use, click the save button.
This step is to prevent any 404 errors on custom post type pages.
Depending on which plugins you have activated, you might see additional permalink options. For example, in the image above WooCommerce permalink settings are available because the WooCommerce plugin was active on our test site.