What is the deadline for Best Brains to provide the disclosure document in Michigan?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
Michigan requires that we 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.
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains's 2025 Franchise Disclosure Document, in Michigan, Best Brains must provide the disclosure document to a prospective franchisee at least 10 business days before the earlier of two events. These events are 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 a financial commitment or entering into a binding agreement with Best Brains. The 10-business-day period allows franchisees to carefully consider the terms of the franchise agreement, assess the risks and benefits of investing in a Best Brains franchise, and conduct due diligence.
It is important to note that the Michigan rule specifies 'business days,' which excludes weekends and holidays, providing slightly more actual review time compared to requirements stated in calendar days. Franchisees should confirm the exact date they received the FDD and calculate the deadline accordingly to ensure compliance with Michigan law.