What action should a Buildingstars franchisee take with the copy of the receipt included in the FDD?
Buildingstars Franchise · 2025 FDDAnswer from 2025 FDD Document
Date of Issuance: April 15, 2025
See Exhibit I for our registered agents authorized to receive service of process.
I have received a disclosure document dated April 15, 2025, that included the following Exhibits:
A. Technician Franchise Agreement F. List of Franchisees B. On-Site Manager Franchise Agreement G. Audited Financial Statements C. Corporate Franchise Agreement H. Unaudited Financial Statements-none D. Table of Contents of Manual I. List of State Agencies/Agents for Service of Process E. State Specific Addenda J. Receipt Printed Name Disclosure # KEEP THIS COPY FOR YOUR RECORDS
RECEIPT
This disclosure document summarizes provisions of the franchise agreement and other information in plain language. Read this franchise disclosure document and all agreements carefully.
If we offer you a franchise, we must provide this disclosure document to you 14 calendar days before you sign a binding agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale.
If we do 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 and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the appropriate state agency identified in Exhibit I.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2025 FDD)
According to Buildingstars's 2025 Franchise Disclosure Document, the franchisee should keep the copy of the receipt included in the FDD for their records. The receipt confirms that the franchisee received the disclosure document, which summarizes the franchise agreement and other important information. The FDD includes exhibits such as the Technician Franchise Agreement, On-Site Manager Franchise Agreement, Corporate Franchise Agreement, Table of Contents of Manual, State Specific Addenda, List of Franchisees, Audited Financial Statements, Unaudited Financial Statements, List of State Agencies/Agents for Service of Process, and the Receipt. The disclosure document is intended to be read carefully along with all agreements.
Buildingstars is legally obligated to provide the disclosure document to the prospective franchisee at least 14 calendar days before they sign a binding agreement or make any payment related to the franchise. This 14-day period allows the franchisee adequate time to review the document and seek professional advice if needed. The receipt serves as proof that Buildingstars fulfilled this obligation.
If Buildingstars fails to deliver the disclosure document on time, or if the document contains false or misleading statements, or omits material information, it could be a violation of federal and state law. In such cases, the franchisee should report the violation to the Federal Trade Commission (FTC) and the appropriate state agency, as identified in Exhibit I of the FDD. Keeping the receipt is important as it may serve as evidence in case of any disputes or legal issues related to the disclosure process.