What assurance is the franchisee giving to Craters & Freighters Franchise Company by completing the 'Statement of Franchisee'?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
ORTH DAKOTA, RHODE ISLAND, SOUTH DAKOTA, VIRGINIA, WASHINGTON, OR WISCONSIN.
IF THE FRANCHISE IS TO BE OPERATED IN, OR YOU ARE A RESIDENT OF, MARYLAND, DO NOT SIGN THIS STATEMENT.
In order to make sure that no misunderstanding exists between you, the Franchisee, and us, Craters & Freighters Franchise Company (also called "Franchisee" or "we") and to make sure that no violations of law might have occurred, and understanding that we are relying on the statements you make in this document, you assure us as follows:
| Cash Flows from Financing Activities: | | | | |---|---|---|---| | Distributions to Shareholder | | | - (4,945,919) | | Due to Shareholder | 2,769,688 | | - | | Net Cash Flows from Financing Activities | 2,769,688 | (4,945,919) | | | Net Increase (Decrease) in Cash and Cash Equivalents | 4,615,333 | (2,279,537) | | | Cash and Cash Equivalents at Beginning of Year | 2,376,316 | 4,655,853 | | | Cash and Cash Equivalents at End of Year | $6,991,649 | $ 2,376,316 | | Craters & Freighters 2025 FDD v2 This document was downloaded from franchimp.com. All the information on this website is published in good faith and for general information purpose only. FranChimp.com does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information you find on this website (FranChimp.com), is strictly at your own risk. We will not be liable for any losses and/or damages in connection with the use of our website.
- No oral, written, visual or other promises, agreements, commitments, representation, understandings, "side agreements" or otherwise which expanded upon or were inconsistent with the Franchise Disclosure Document
or the Franchise Agreement or any attached written addendum signed by me and an officer of Craters & Freighters Franchise Company, were made to me by any person or entity, nor have I relied in any way on same, except as follows:
__________________________________________________________________________________ __________________________________________________________________________________
(If none, you should write NONE in your own handwriting and initial.)
3.
Source: Item 23 — RECEIPTS (FDD pages 50–193)
What This Means (2025 FDD)
According to the 2025 Craters & Freighters Franchise Disclosure Document, the 'Statement of Franchisee' serves as an assurance to Craters & Freighters Franchise Company that the franchisee understands the nature of the franchise opportunity and acknowledges certain key aspects of the agreement. This statement helps to ensure that there are no misunderstandings between the franchisee and Craters & Freighters and confirms that no violations of law have occurred during the franchise sales process. Craters & Freighters relies on the accuracy of the statements made by the franchisee in this document.
Specifically, by completing the statement, the franchisee is confirming that their business skills, including marketing, sales, and management, are crucial to the success of the Craters & Freighters franchised business. The franchisee acknowledges that these skills, along with sound judgment and hard work, are necessary for operating the franchise effectively. The franchisee also confirms that they have not received any inconsistent information or been pressured to sign the document without all statements being true, correct, and complete.
Furthermore, the franchisee is agreeing that Craters & Freighters has not provided any assurances regarding potential sales, costs, income, expenses, profits, cash flow, or tax effects. The franchisee understands that actual results may vary from unit to unit and that no specific financial outcomes can be guaranteed. The franchisee also confirms that no unauthorized promises or agreements have been made that contradict the Franchise Disclosure Document or the Franchise Agreement, except as explicitly stated in writing and signed by an officer of Craters & Freighters Franchise Company.
It's important to note that this 'Statement of Franchisee' does not apply, and should not be completed, if the franchise is subject to state franchise disclosure laws in certain states, including California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin. Additionally, the statement should not be signed if the franchise is to be operated in, or the franchisee is a resident of, Maryland.