What does the franchisee acknowledge regarding representations about the Crawlspace Medic business?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
FRANCHISEES WHO HAVE LEFT THE SYSTEM
None
NOT FOR USE IN CALIFORNIA
CRAWL SPACE MEDIC ACKNOWLEDGEMENT STATEMENT
Franchisee hereby acknowledges the following:
- Franchisee has conducted an independent investigation of all aspects relating to the financial, operational and other aspects of the business of operating the Franchised Business. Franchisee further acknowledges that, except as may be set forth in Franchisor's Disclosure Document, no representations of performance (financial or otherwise) for the Franchised Business provided for in this Agreement has been made to Franchisee by Franchisor and Franchisee and any and all Principals hereby waive any claim against Franchisor for any business failure Franchisee may experience as a franchisee under this Agreement.
Initial
- Franchisee has conducted an independent investigation of the business contemplated by this Agreement and understands and acknowledges that the business contemplated by this Agreement involves business risks making the success of the venture largely dependent upon the business abilities and participation of Franchisee and its efforts as an independent business operation.
Initial
- Franchisee agrees that no claims of success or failure have been made to it or him or her prior to signing the Franchise Agreement and that it/she/he understands all the terms and conditions of the Franchise Agreement. Franchisee further acknowledges that the Franchise Agreement contains all oral and written agreements, representations and arrangements between the parties hereto, and any rights which the respective parties hereto may have had under any other previous contracts are hereby cancelled and terminated, and that this Agreement cannot be changed or terminated orally.
Initial
- Franchisee has no knowledge of any representations by Franchisor or its officers, directors, shareholders, employees, sales representatives, agents or servants, about the business contemplated by the Franchise Agreement that are contrary to the terms of the Franchise Agreement or the documents incorporated herein. Franchisee acknowledges that no representations or warranties are made or implied, except as specifically set forth in the Franchise Agreement. Franchisee represents, as an inducement to Franchisor's entry into this Agreement, that it has made no misrepresentations in obtaining the Franchise Agreement.
Initial
| Franchisor expressly disclaims the making of, and Franchisee acknowledges that it has not received or relied upon, any warranty or guarantee, express or implied, as to the potential volume, profits or success of the business venture contemplated by the Franchise Agreement. | 5. |
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| Franchisee acknowledges that Franchisor's approval or acceptance of Franchisee's | 6. |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 40–42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, franchisees must acknowledge several key points regarding their understanding and acceptance of the business venture.
Specifically, franchisees confirm they have conducted their own independent investigation into the financial, operational, and other aspects of operating a Crawlspace Medic franchise. They acknowledge that, unless explicitly stated in the Franchise Disclosure Document, Crawlspace Medic has not made any representations about the financial performance of the franchise. Franchisees also waive any claims against Crawlspace Medic for business failure, except for claims arising from representations made by Crawlspace Medic in the Franchise Disclosure Document.
Furthermore, franchisees acknowledge that the success of the Crawlspace Medic business depends largely on their own abilities and efforts as independent business operators and that they understand the business involves risks. They agree that no claims of success or failure have been made to them prior to signing the Franchise Agreement and that they understand all the terms and conditions of the Franchise Agreement. The franchisee also confirms they have no knowledge of any representations made by Crawlspace Medic that contradict the Franchise Agreement and that no representations or warranties are made or implied, except as specifically outlined in the Franchise Agreement.
These acknowledgements are standard practice in franchising, designed to ensure that franchisees enter the agreement with a clear understanding of the risks and responsibilities involved, and that they have not relied on any unsubstantiated claims or promises. Prospective Crawlspace Medic franchisees should carefully review the Franchise Disclosure Document and seek independent legal and financial advice before signing the Franchise Agreement.