For All States M.E.D., what is the franchisee agreeing to regarding making a decision to purchase their franchise?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisee represents that it has been urged to consult with its own advisors with respect to the legal, financial and other aspects of this Agreement, the business franchised hereby and the prospects for that business. Franchisee represents that it has either consulted with such advisors or has deliberately declined to do so.
24.3 True and Accurate Information
Franchisee represents that all information in any and all applications, financial statements, and submissions to Franchisor is true, complete, and accurate in all respects, and Franchisee acknowledges that Franchisor is relying upon the truthfulness, completeness, and accuracy of such information.
24.4 Risk
Franchisee represents that it has conducted an independent investigation of the business contemplated by this Agreement and acknowledges that, like any other business, an investment in an All
States M.E.D. Business involves business risks and that the success of the venture is dependent, among other factors, upon the business abilities and efforts of Franchisee. Franchisor makes no representations or warranties, express or implied, in this Agreement or otherwise, as to the potential success of the business venture contemplated hereby.
24.5 No Guarantee of Success
Franchisee represents and acknowledges that it has not received or relied on any guarantee, express or implied, as to the revenues, profits or likelihood of success of the Franchised Business. Franchisee represents and acknowledges that there have been no representations by Franchisor's officers, directors, employees or agents that are not contained in, or are inconsistent with, the statements made in the Franchise Disclosure Document or this Agreement.
24.6 No Violation of Other Agreements
Franchisee represents that its execution of this Agreement will not violate any other agreement or commitment to which Franchisee or any holder of a legal or beneficial interest in Franchisee is a party.
Source: Item 23 — RECEIPTS (FDD pages 44–174)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, the franchisee acknowledges several key aspects regarding their decision to invest in the franchise. The franchisee confirms they were urged to seek advice from legal and financial advisors regarding the franchise agreement, the business itself, and its potential. The franchisee also confirms that they either consulted with these advisors or consciously chose not to.
Furthermore, the franchisee is attesting that all information provided to All States M.E.D. in applications and financial statements is accurate and complete. The franchisee understands that All States M.E.D. relies on this information. The franchisee also acknowledges they have independently investigated the business opportunity and are aware of the risks involved, recognizing that success depends on their own abilities and efforts. All States M.E.D. makes no guarantees about the potential success of the business.
Finally, the franchisee confirms they have not received or relied upon any guarantees regarding revenues, profits, or the likelihood of success. They acknowledge that no representations made by All States M.E.D.'s officers, directors, employees, or agents contradict the information in the Franchise Disclosure Document or the Franchise Agreement. The franchisee also confirms that entering into the agreement does not violate any other agreements they may be party to.