What is the required waiting period in Michigan before executing the franchise agreement with Bambu, or paying any consideration?

According to Bambu's 2025 Franchise Disclosure Document, Michigan requires that Bambu provide the Disclosure Document to prospective franchisees at least 10 business days before the earlier of two events: the execution of any binding franchise or other agreement, or the payment of any consideration related to the franchise. This regulation is designed to give potential franchisees adequate time to review the FDD and seek professional advice before making any commitments.

This 10-business-day waiting period in Michigan is intended to protect franchisees by ensuring they have sufficient time to carefully consider the franchise opportunity. It prevents franchisors from pressuring candidates into signing agreements or paying fees without proper review. The stipulation that the waiting period applies to 'any consideration' is important, as it covers all forms of payment, not just the initial franchise fee.

Prospective Bambu franchisees in Michigan should mark the date they receive the FDD and ensure at least 10 business days pass before signing any agreements or making any payments. This allows them to fully understand the terms and conditions of the franchise, consult with legal and financial advisors, and conduct thorough due diligence. Failure to comply with this waiting period could potentially lead to legal issues or the invalidation of the franchise agreement.

It is important to note that this waiting period is specific to Michigan. Other states, such as New York and Iowa, have different waiting period requirements, as outlined in the same section of the FDD. Franchisees should be aware of the specific regulations in their state to ensure compliance.