What is the required timeframe for Chester's International, LLC to provide the disclosure document in Michigan before executing the franchise agreement or payment of consideration?
Chesters Franchise · 2025 FDDAnswer from 2025 FDD Document
Michigan requires that we give you this disclosure document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
Source: Item 23 — **RECEIPTS (FDD pages 48–197)
What This Means (2025 FDD)
According to Chester's 2025 Franchise Disclosure Document, if you are considering a Chester's franchise in Michigan, Chester's International, LLC must provide you with the Franchise Disclosure Document (FDD) at least 10 business days before you sign any binding agreement or make any payment related to the franchise, whichever comes first. This mandatory waiting period is designed to allow prospective franchisees adequate time to thoroughly review the FDD and seek professional advice before committing to the franchise.
This disclosure requirement is specific to Michigan and is intended to protect potential franchisees by ensuring they have sufficient time to evaluate the opportunity. The FDD contains critical information about Chester's, including its financial performance, franchise terms, and legal obligations.
It is important for prospective franchisees to note that failure by Chester's to deliver the FDD within the stipulated timeframe, or if the document contains false, misleading, or omits material information, it may constitute a violation of federal and state laws. In such cases, the FDD advises franchisees to report the violation to the Federal Trade Commission and the appropriate state agency.