Who must sign the reports submitted by a Closet Storage Concepts franchisee?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
Spouses of Franchisees must sign the Confidentiality, Non-Disclosure and Non-Competition Agreement in the form attached as Exhibit "3(b)".
- 6.4.4 Employees. Franchisee shall require its officers, directors, equity owners, employees (to the extent the employee has received Franchisor's initial training) and members of the immediate family of Franchisee, its officers, directors and equity owners to execute a confidentiality agreement containing provisions similar to those set forth in this Agreement.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2025 FDD)
According to Closet Storage Concepts' 2025 Franchise Disclosure Document, the franchisee is responsible for submitting reports, and the document specifies which other parties must sign certain agreements, but it does not explicitly state who must sign the reports that franchisees submit. However, the FDD does state that spouses of franchisees must sign the Confidentiality, Non-Disclosure, and Non-Competition Agreement.
Additionally, Closet Storage Concepts requires its officers, directors, equity owners, employees (to the extent the employee has received Closet Storage Concepts' initial training) and members of the immediate family of Franchisee, its officers, directors and equity owners to execute a confidentiality agreement containing provisions similar to those set forth in this Agreement.
Because the FDD does not specify who must sign the reports submitted by a Closet Storage Concepts franchisee, prospective franchisees should clarify with the franchisor the exact requirements for report submissions and who is required to sign them. Understanding these requirements is crucial for compliance and maintaining a good relationship with Closet Storage Concepts.