What is the minimum number of calendar days before signing the Deposit Agreement that an Anago applicant must receive the Franchise Disclosure Document?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
If Anago Franchising, Inc. offers you a franchise, it must provide this disclosure document to you 14 calendar days before you sign a binding agreement with, or make a payment to, Anago Franchising, Inc. or an affiliate in connection with the proposed franchise sale, or sooner if required by applicable state law. Under Iowa law, we must give you this disclosure document at the earlier of our 1st personal meeting or 14 calendar days before you sign an agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale. Under Michigan law, we must give you this disclosure document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first. Under New York law, we must provide this disclosure document at the earlier of the 1st personal meeting or 10 business days before you sign a binding agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale.
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, Anago must provide the disclosure document to a prospective franchisee at least 14 calendar days before they sign a binding agreement or make a payment in connection with the proposed franchise sale. This 14-day period is a standard requirement under federal law, allowing potential franchisees adequate time to review the FDD and seek professional advice before committing to the franchise. However, this timeframe may be affected by state laws.
Specifically, the disclosure notes that certain states have their own regulations regarding the timing of FDD delivery. For example, in Iowa, Anago must provide the FDD at the earlier of the first personal meeting or 14 calendar days before signing an agreement or making a payment. Michigan law requires delivery at least 10 business days before signing any binding agreement or making any payment. New York law mandates providing the FDD at the earlier of the first personal meeting or 10 business days before signing an agreement or making a payment.
Therefore, prospective Anago franchisees need to be aware of both the federal and state-specific requirements for FDD delivery. If a franchisee is located in Iowa, Michigan, or New York, the state law may dictate a different timeframe than the standard 14 calendar days. It is important to consult with a franchise attorney to ensure full compliance with all applicable laws and regulations before signing any agreements or making any payments to Anago.