Does the Chem Dry franchisee acknowledge reading and understanding the Franchise Disclosure Document?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
FRANCHISEE acknowledges that FRANCHISEE has read this Agreement and CDI's Franchise Disclosure Document and that FRANCHISEE understands and accepts the terms, conditions and covenants contained in this Agreement as being reasonably necessary to maintain CDI's high standards of quality and service, as well as the uniformity of those standards at each CHEM-DRY Business and to protect and preserve the goodwill of the Marks.
FRANCHISEE acknowledges that CDI has the right to restrict FRANCHISEE'S sources of goods and services, as provided in various sections in this Agreement.
FRANCHISEE acknowledges that FRANCHISEE has conducted an independent investigation of the business contemplated by this Agreement and recognizes that it involves business risks and that the success of the venture is largely dependent upon the business abilities of FRANCHISEE.
FRANCHISEE acknowledges and agrees that CDI's officers, directors, employees and agents act only in a representative and not in a personal capacity in their dealings with FRANCHISEE.
FRANCHISEE further acknowledges that FRANCHISEE has not received or relied upon, any warranty or guaranty, express or implied, as to the potential revenues, profits or success of the franchise or policies made by CDI or its officers, directors, employees or agents that are contrary to the statements, if any, expressly made in CDI's Franchise Disclosure Document.
FRANCHISEE further represents to CDI, as an inducement to its entry into this Agreement, that FRANCHISEE has made no misrepresentations in obtaining the franchise.
FRANCHISEE further acknowledges that CDI has not made any representation, warranty, or other claim regarding the CHEM-DRY Business franchise opportunity, other than those made in this Agreement and CDI's Franchise Disclosure Document.
FRANCHISEE represent and warrants to CDI that FRANCHISEE has independently and
1 thoroughly evaluated this opportunity, including by using business professionals and advisors selected and engaged by FRANCHISEE, and has relied solely upon those evaluations in deciding to enter into this Agreement. FRANCHISEE further acknowledges that FRANCHISEE has been afforded an opportunity to ask any questions FRANCHISEE has and to review any materials of interest to FRANCHISEE concerning the CHEM-DRY Business franchise opportunity. Finally, FRANCHISEE acknowledges that FRANCHISEE has been afforded an opportunity, and has been encouraged by CDI, to have this Agreement and all other agreements and materials CDI has given or made available to FRANCHISEE reviewed by an attorney or other professional advisor.
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to the 2024 Chem Dry Franchise Disclosure Document, the franchisee acknowledges that they have read and understand the Franchise Disclosure Document (FDD). This acknowledgement is part of the franchise agreement, where the franchisee confirms they understand and accept the terms, conditions, and covenants within the agreement. These terms are deemed reasonably necessary by Chem Dry to maintain its standards for quality and service, ensure uniformity across all Chem Dry businesses, and protect the goodwill associated with its trademarks.
Furthermore, the franchisee's acknowledgement includes an understanding that Chem Dry has the right to restrict the franchisee's sources of goods and services, as detailed in various sections of the agreement. The franchisee also confirms they have conducted an independent investigation of the Chem Dry business opportunity, recognizing the inherent business risks and understanding that their success largely depends on their own business abilities.
In addition to acknowledging the FDD and agreement terms, the franchisee confirms they have not relied on any warranties or guarantees regarding potential revenues, profits, or the success of the franchise, except for those expressly stated in the FDD. The franchisee also warrants they have made no misrepresentations in obtaining the franchise and that Chem Dry has made no claims about the franchise opportunity beyond what is in the agreement and the FDD. The franchisee represents that they have independently evaluated the opportunity with the help of their own advisors and had the chance to ask questions and review materials, including having the agreement reviewed by an attorney or professional advisor.