Does the Aplus franchise agreement require franchisees to understand all information contained in the disclosure document provided to them?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
| [PLEASE RESPOND WITH YES OR NO TO EACH QUESTION BELOW] |
|---|
| 1. |
| Have you received and personally reviewed Sunoco Retail LLC Franchise Agreement and each |
| exhibit, addendum and schedule attached to it? |
| 2. |
| Do you understand all of the information contained in the Franchise Agreement and each exhibit |
| and schedule attached to it? |
| If "No", what parts of the Franchise Agreement do you not understand? (Attach additional pages, if |
| necessary.) |
| 3. |
| Have you received and personally reviewed our disclosure document we provided to you? |
| 4. |
| Do you understand all of the information contained in the disclosure document? |
| If "No", what parts of the disclosure document do you not understand? (Attach additional pages, if |
| necessary.) |
| 5. |
| Have you discussed the benefits and risks of operating the APLUS Store with an attorney, |
| accountant or other professional advisor and do you understand those risks? |
| 6. |
| Do you understand that the success or failure of your business will depend in large part upon your |
| skills and abilities, competition from other businesses, interest rates, inflation, labor and supply costs, lease |
| terms and other economic and business factors? |
| 7. |
| Has any employee or other person speaking on our behalf made any statement or promise |
| concerning the revenues or profits of the APLUS Store that we or our franchisees operate? |
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, franchisees are expected to understand the information contained within the disclosure document. Specifically, the Franchise Disclosure Questionnaire includes a question asking if the franchisee understands all the information in the disclosure document. If the franchisee answers "No", they are prompted to explain which parts they do not understand. Aplus also requires that franchisees acknowledge receipt of the Franchise Disclosure Document at least 14 calendar days before signing the agreement.
This requirement ensures that prospective franchisees have had adequate time to review and comprehend the details of the franchise offering before committing to the agreement. It also serves to protect both the franchisee and Aplus by confirming that the franchisee is entering the agreement with a clear understanding of its terms, conditions, and potential risks.
Prospective Aplus franchisees should carefully review the entire disclosure document and seek clarification from Aplus or their own professional advisors on any points they do not fully understand. Answering the questionnaire truthfully is important, as Aplus states that they will rely on the answers provided.