Has any party associated with Closet Storage Concepts been convicted of a felony?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
Except as provided above, with regard to the franchisor, its predecessor, a person identified in Item 2, or an affiliate offering franchises under the franchisor's principal trademark:
- C. No such party has been convicted of a felony or pleaded nolo contendere to a felony charge or, within the 10 year period immediately preceding the application for registration*,* has been convicted of or pleaded nolo contendere to a misdemeanor charge or has been the subject of a civil action alleging: violation of a franchise, antifraud or securities law; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices or comparable allegations.
Source: Item 23 — RECEIPTS (FDD pages 59–238)
What This Means (2025 FDD)
According to Closet Storage Concepts' 2025 Franchise Disclosure Document, no party associated with the franchise has been convicted of a felony. Specifically, Item 23 states that no party associated with Closet Storage Concepts, including the franchisor, its predecessors, individuals identified in Item 2, or any affiliate offering franchises under the Closet Storage Concepts trademark, has been convicted of a felony or pleaded nolo contendere to a felony charge. This extends to the 10-year period immediately preceding the application for registration.
This statement provides assurance to potential franchisees that the key figures and entities associated with Closet Storage Concepts have not been involved in serious criminal activity. The absence of felony convictions among the franchisor's leadership and affiliates can be a positive factor for prospective franchisees, suggesting a stable and trustworthy organization.
It is important to note that this disclosure only covers felony convictions and certain other legal matters as described in the full text. A prospective franchisee should still conduct their own due diligence, including background checks and legal consultations, to fully assess the risks and benefits of investing in a Closet Storage Concepts franchise.