What is the minimum amount of time a prospective Cicis franchisee should have to review the FDD before executing the Franchise Agreement?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
I received a copy of the FDD, including the Franchise Agreement and Area Development Agreement, at least 14 calendar days before I executed the Franchise Agreement and/or the Area Development Agreement, as applicable. I understand that all of my rights and responsibilities and those of Franchisor in connection with the franchise are set forth in these documents and only in these documents. I acknowledge that I have had the opportunity to personally and carefully review these documents and have, in fact, done so. I have been advised to have professionals (such as lawyers and accountants) review the documents for me and to have them help me understand these documents. I have also been advised to consult with other franchisees regarding the risks associated with the purchase of the franchise.
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, a prospective franchisee must receive a copy of the FDD, including the Franchise Agreement and Area Development Agreement, at least 14 calendar days before executing the Franchise Agreement and/or the Area Development Agreement. This mandatory waiting period allows potential franchisees to carefully review the documents and seek professional advice.
This 14-day review period is a standard practice in the franchising industry, mandated by the Federal Trade Commission (FTC) and state franchise laws to protect franchisees. It ensures that franchisees have adequate time to understand the terms and conditions of the franchise agreement before making a significant financial investment. The FDD contains crucial information about the franchise system, including fees, obligations, and potential risks.
Cicis also advises prospective franchisees to consult with professionals such as lawyers and accountants to review the documents and to seek advice from other franchisees regarding the risks associated with purchasing the franchise. This proactive approach encourages informed decision-making and helps franchisees understand the full scope of their investment and obligations. By providing this review period and recommending professional consultation, Cicis aims to ensure that new franchisees are well-prepared and aware of the responsibilities involved in operating a franchise.