In the Beehive Homes receipt, what action is the franchisee acknowledging?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
EXHIBIT J RECEIPT
This Franchise Disclosure Document summarizes certain provisions of the franchise agreement and other information in plain language. Read this Franchise Disclosure Document and all agreements carefully. If Bee Hive Homes, Inc. offers you a franchise, it must provide this Franchise Disclosure Document to you at least 14 calendar days before you sign a binding agreement with, or make a payment to, Bee Hive Homes, Inc. or its affiliate in connection with the proposed franchise sale, or sooner if required by applicable state law.
If Bee Hive Homes, Inc. does not deliver this Franchise Disclosure Document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, DC 20580 and the state agency listed on Exhibit A.
The name, principal business address, and telephone number of each franchise seller offering the franchise is set forth in Item 22.
Issue Date: April 28, 2025.
I received a Franchise Disclosure Document dated as of the Issue Date stated above that included the following Exhibits:
A State Franchise Administrators and Agents for Service of Process
B-1 List of Franchised Homes at December 31, 2024
B-2 List of Franchisees Ceasing Operations during 2024
C Financial Statements
D Franchise Agreement
E Guaranty and Assumption of Obligations of Franchise Agreement
F Assignment to Entity
G Table of Contents to Policy and Procedures Manual
H State Specific Addenda
I Effective Dates
J Receipts
Dated:, 2025 Signature - Prospective Franchisee Printed Name Sign and date this copy and return it to us
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the franchisee acknowledges several key actions and understandings upon signing the receipt for the Franchise Disclosure Document (FDD). Specifically, the franchisee is acknowledging receipt of the FDD and its included exhibits. These exhibits cover critical aspects of the franchise agreement, such as state-specific addenda, lists of franchised homes, financial statements, and the franchise agreement itself.
Furthermore, the franchisee's signature on the receipt confirms that they have received the FDD at least 14 calendar days before signing any binding agreement or making any payments to Beehive Homes. This 14-day period is a standard regulatory requirement designed to provide prospective franchisees with sufficient time to review the document and seek professional advice. The receipt also serves as an acknowledgment that the FDD summarizes the franchise agreement and other information in plain language, emphasizing the importance of careful review.
In essence, by signing the receipt, the prospective Beehive Homes franchisee is affirming that they have been given the opportunity to review all the essential details of the franchise offering before committing to the venture. This receipt is a crucial legal safeguard for both the franchisor and the franchisee, ensuring transparency and informed consent in the franchising process. The franchisee is instructed to sign and date one copy to return to Beehive Homes, and to retain another copy for their own records.