What action is Bombs Away Franchising, LLC required to take if offering a franchise?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
| ective Date | ||
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| California | Pending |
Other states may require registration, filing, or exemption of a franchise under other laws, such as those that regulate the offer and sale of business opportunities or seller-assisted marketing plans.
RECEIPT
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Bombs Away Franchising, LLC offers you a franchise, it must provide this disclosure document to you 14 calendar-days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale. New York requires that you be given this disclosure document at the earlier of the first personal meeting or 10 business days before the execution of any franchise or other agreement, or payment of any consideration that relates to the franchise relationship.
If Bombs Away Franchising, LLC does not deliver this 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, D.C. 20580 and any applicable state agency (which are listed in Exhibit A).
The name, principal business address, and telephone number of each franchise seller offering the franchise is:
| Name | Principal Business Address | Telephone Number | |--------------|-----------------------------------------|------------------| | Ryan O'Quinn | 655 E McGlincy Lane Ste E, Campbell, CA 95008 | (480) 500-7342 | Issuance Date: February 9, 2024
I received a disclosure document that included the following Exhibits:
- A. State Addenda to Disclosure Document
- B. Franchise Agreement (with State Addenda to Agreements, Guaranty and Non-Compete Agreement, and Form of General Release)
- C. Item 21 Financial Statements
- D. State Administrators and Agents for Service of Process
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Keep This Copy For Your Records
RECEIPT
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, if Bombs Away Franchising, LLC offers a franchise, it must provide the disclosure document to the prospective franchisee 14 calendar days before the franchisee signs a binding agreement or makes a payment to Bombs Away or its affiliates related to the franchise sale. However, New York has a different requirement. In New York, Bombs Away must provide the disclosure document at the earlier of the first personal meeting or 10 business days before the execution of any franchise or other agreement, or payment of any consideration that relates to the franchise relationship.
Bombs Away must ensure the disclosure document does not contain false or misleading statements, or material omissions. Failure to deliver the disclosure document on time or including false/misleading information may result in a violation of federal and state laws. Such violations should be reported to the Federal Trade Commission and any applicable state agency.
In California, Bombs Away must provide a disclosure document approved by the Department of Financial Protection and Innovation 14 days prior to the execution of an agreement or when soliciting a proposed material modification of an existing agreement. In Hawaii, Bombs Away must provide the prospective franchisee with a copy of the disclosure document and all proposed agreements relating to the sale of the franchise at least seven days before the franchisee executes any binding agreement or pays any consideration, whichever occurs first. In Minnesota, Bombs Away must provide the prospective franchisee with a copy of the public offering statement and all proposed agreements relating to the franchise at least 7 days prior to the execution of any binding franchise agreement or payment of any consideration.