Does the Alloy franchise agreement require the 'ACKNOWLEDGEMENT OF PRINCIPAL' to be updated if the principal changes?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
Schedule E to the Franchise Agreement
ACKNOWLEDGMENT ADDENDUM TO ALLOY FRANCHISE AGREEMENT
THIS ACKNOWLEDGEMENT ADDENDUM DOES NOT APPLY TO CANDIDATES LOCATED IN OR BUSINESSES TO BE LOCATED IN ANY OF THE FOLLOWING FRANCHISE REGISTRATION STATES: CA, HI, IL, IN, MD, MI, MN, NY, ND, RI, SD, VA, WA, WI.
As you know, you and we are entering into a Franchise Agreement for the operation of an ALLOY franchise. Please review each of the following questions carefully and provide honest responses to each question.
**Acknowledgments and Representations
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the 'Acknowledgement Addendum to Alloy Franchise Agreement' does not apply to candidates or businesses located in California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin.
For franchisees in other states, the FDD includes an Acknowledgment Addendum that requires the franchisee to review and respond honestly to a series of questions. However, the provided excerpts do not specify whether this addendum needs to be updated if the principal of the franchise changes.
To determine if an update to the 'Acknowledgement of Principal' is required upon a change of principal, a prospective Alloy franchisee should review the full Franchise Agreement and any related exhibits, and directly ask the franchisor for clarification on this specific point.