For a Buona franchise, can the Franchise Acknowledgement Questionnaire be signed on the same day as the Receipt for the Franchise Disclosure Document?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
As you know Chicago's Original Italian Beef Franchising, LLC (we" or "us"), and you are preparing to enter into a Franchise Agreement for the operation of a Buona Franchise. You cannot sign or date this Questionnaire the same day as the Receipt for the Franchise Disclosure Document but you must sign and date it the same day you sign the Franchise Agreement. Please review each of the following questions carefully and provide honest responses to each question. If you answer "No" to any of the questions below, please explain your answer on the next page.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, a prospective franchisee cannot sign the Franchise Acknowledgement Questionnaire on the same day they sign the Receipt for the Franchise Disclosure Document. The questionnaire must be signed and dated on the same day the Franchise Agreement is signed. This is to ensure that the franchisee has had adequate time to review the FDD and all related documents before making a commitment to the franchise.
This requirement is designed to protect prospective franchisees by ensuring they have a sufficient review period. The cooling-off period allows franchisees to carefully consider the terms of the franchise agreement and seek professional advice if needed. This prevents franchisees from feeling rushed or pressured into signing agreements without fully understanding their obligations and rights.
It is important to note that this restriction does not apply to prospective franchisees who reside in, or who intend to operate the franchised business in the state of California, as stated in the FDD. Franchisees should be aware of all such stipulations and requirements when considering purchasing a Buona franchise.