Is there a Statement of Franchise Owners included as a schedule in the Bang Cookies Franchise Agreement?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
| Schedule 1 | Location and Designated Territory Acknowledgment |
|---|---|
| Schedule 2 | Statement of Franchise Owners |
| Exhibit 1 | Franchise Owner and Spouse Agreement and Guaranty |
| Exhibit 2 | Confidentiality Agreement |
| Exhibit 3 | Site Selection Acknowledgment |
| Exhibit 4 | Lease Agreement Rider |
| Exhibit 5 | Collateral Assignment of Lease |
| Exhibit 6 | Assignment of Telephone Numbers and Digital Media Accounts |
| Exhibit 7 | ACH Authorization Form |
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, Schedule 2 of the Franchise Agreement includes a Statement of Franchise Owners. This statement is listed among other schedules and exhibits that are part of the Franchise Agreement.
For a prospective Bang Cookies franchisee, the inclusion of a Statement of Franchise Owners as part of the Franchise Agreement suggests that there is a formal mechanism for current franchise owners to express their views or concerns. This could be related to the operations, management, or overall direction of the franchise system. It is not clear from the excerpt what the exact purpose or content of this statement is.
It is important for potential franchisees to understand the nature and implications of this statement. They should inquire with Bang Cookies about the process for creating, submitting, and addressing the Statement of Franchise Owners. Understanding how the franchisor uses this statement can provide insights into the franchisor's relationship with its franchisees and the level of franchisee input in the franchise system.