What should a prospective Chem Dry franchisee do if any pages or exhibits are missing from their Disclosure Document?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
I received a Disclosure Document from Chem-Dry, Inc. dated as of March 29, 2024 that included the following Exhibits:
Signature of Officer Printed Name and Title If an entity - Name of entity: Date Received Date Received E. List of Franchisees Manual D. Table of Contents of Operating I. Franchisee Disclosure Questionnaire C. Business Note G. H. State Addenda to the FDD B. Franchise Agreement and Other Financial Statements with Guaranty of Agreements Performance A List of Agents/State Agencies F. List of Former Franchisees
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
Based on the 2024 Chem Dry Franchise Disclosure Document, there is no explicit instruction detailed within the provided excerpts regarding the specific steps a prospective franchisee should take if pages or exhibits are missing from their disclosure document.
However, the document does emphasize the importance of carefully reviewing the entire disclosure document and all agreements. It also states that the disclosure document summarizes provisions of the franchise agreement and other information. The receipt included in the FDD lists exhibits that should be included.
Given this, a prospective Chem Dry franchisee should first confirm that they have received all exhibits listed in the receipt. If any items are missing, the most prudent course of action would be to immediately contact Chem Dry directly. Specifically, reach out to the franchise sales representatives listed in Item 23, or contact Chem Dry's headquarters in Nashville, TN, to request the missing documents. It is crucial to ensure you have a complete and accurate FDD before making any decisions or signing any agreements.
It would also be wise to consult with a franchise attorney to discuss the implications of proceeding without a complete FDD and to ensure full compliance with federal and state franchise laws. Furthermore, document all communications with Chem Dry regarding the missing documents to maintain a clear record of the due diligence process.