If the franchisee is an individual, are they considered an 'Owner' for the Crave Cookies franchise?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Owner" means each person or entity which directly or indirectly owns or controls any equity of Franchisee.
If Franchisee is an individual person, then "Owner" means Franchisee.
Source: Item 22 — CONTRACTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies's 2025 Franchise Disclosure Document, if the franchisee is an individual person, then that individual is considered an "Owner". This definition is important because the FDD specifies certain obligations and conditions that apply to all Owners of a Crave Cookies franchise.
For a prospective franchisee, this means that if you are applying for a Crave Cookies franchise as an individual, you will be considered the Owner and will be subject to all requirements and responsibilities that Crave Cookies places on its Owners. This includes, but is not limited to, signing a personal guaranty, providing information about yourself, and ensuring you are not in conflict with any existing agreements or involved with any competitors.
Understanding this definition is crucial, as it clarifies that individuals are not exempt from Owner-related obligations simply by virtue of being an individual rather than a corporate entity. Therefore, anyone considering a Crave Cookies franchise should carefully review all sections of the FDD that refer to "Owners" to fully understand their obligations and responsibilities.