What is a prospective Cicis franchisee acknowledging when they initial the statement regarding the FDD?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
I understand that buying a franchise is not a guarantee of success. Purchasing or establishing any business is risky, and the success or failure of the franchise is subject to many variables such as my skills and abilities (and those of my partners, officers, employees), the time my associates and I devote to the business, competition, interest rates, the economy, inflation, operation costs, location, lease terms, the market place generally and other economic and business factors. I am aware of and am willing to undertake these business risks. I understand that the success or failure of my business will depend primarily upon my efforts and not those of Franchisor. INITIAL: 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. INITIAL: Neither the Franchisor nor any of its officers, employees or agents (including any franchise broker) has made a statement, promise or assurance to me concerning any matter related to the franchise (including those regarding advertising, marketing, training, support service or assistance provided by Franchisor) that is contrary to, or different from, the information contained in the FDD. INITIAL:
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, by initialing the provided statements, a prospective franchisee is acknowledging several key points regarding the FDD and their understanding of the franchise agreement.
First, the franchisee acknowledges they received a copy of the FDD, including the Franchise Agreement and Area Development Agreement, at least 14 calendar days before executing those agreements. This 14-day period is mandated by the FTC's Franchise Rule, allowing franchisees time to review the documents. They also confirm that all rights and responsibilities pertaining to the franchise are detailed exclusively within these documents.
Second, the franchisee acknowledges they had the opportunity to carefully review these documents and have, in fact, done so. They also acknowledge they were advised to seek professional advice from lawyers and accountants to help understand the documents, and to consult with existing franchisees about the risks of purchasing the franchise. This highlights the importance of due diligence and seeking expert counsel before making a final decision.
Third, the franchisee acknowledges that neither Cicis nor its representatives have made any statements or promises that contradict the information contained in the FDD. This is intended to protect both the franchisee and Cicis by ensuring that all relevant information is disclosed in writing and that no verbal assurances are relied upon that are not documented in the FDD.