Is it a requirement for Card My Yard franchisees to have personally reviewed the Franchise Disclosure Document and its attachments?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
| l. | Yes No | Have you received and personally reviewed the Franchise Agreement and each attachment or exhibit attached to it that we provided? |
|---|---|---|
| 2. | Yes No | Have you received and personally reviewed the Franchise Disclosure Document and each attachment or exhibit attached to it that we provided? |
| 3. | Yes No | Did you sign a receipt for the Franchise Disclosure Document indicating the date you received it? |
| 4. | Yes No | Do you understand all the information contained in the Franchise Disclosure Document and Franchise Agreement? |
| 5. | Yes No | Have you reviewed the Franchise Disclosure Document and Franchise Agreement with a lawyer, accountant, or other professional advisor, or have you had the opportunity for such review and chosen not to engage such professionals? |
| 6. | Yes No | Have you had the opportunity to discuss the benefits and risks of developing and operating a Franchise with an existing franchisee? |
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, franchisees must acknowledge that they have received and personally reviewed the Franchise Disclosure Document (FDD) and all attachments. This requirement is confirmed through a receipt where the franchisee must answer 'Yes' or 'No' to the question of whether they have personally reviewed the FDD and its attachments.
This acknowledgement is crucial because it confirms that the franchisee has had the opportunity to understand the terms, risks, and obligations associated with the Card My Yard franchise. It also signifies that the franchisee is making an informed decision before investing in the franchise. The receipt also includes questions regarding whether the franchisee signed a receipt for the FDD indicating the date they received it, and whether they understand all the information contained in the FDD and Franchise Agreement.
Furthermore, the receipt includes questions regarding whether the franchisee has reviewed the FDD and Franchise Agreement with a lawyer, accountant, or other professional advisor, or have had the opportunity for such review and chosen not to engage such professionals, and whether they have had the opportunity to discuss the benefits and risks of developing and operating a Franchise with an existing franchisee. These acknowledgements are designed to ensure that franchisees are fully aware of what they are getting into and have sought appropriate advice.