What is the Crawlspace Medic franchisee acknowledging regarding their own knowledge and experience?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
t it has made no misrepresentations in obtaining the Franchise Agreement.
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| 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. |
| Business location does not constitute a warranty, recommendation or endorsement of the | |
| location for the Franchised Business, nor any assurance by Franchisor that the operation | |
| of the Franchised Business at the premises will be successful or profitable. | |
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| Franchisee acknowledges that it has received the CSM Franchise Group, LLC | 7. |
| Franchise | |
| Disclosure Document with a complete copy of the Franchise Agreement and all related | |
| Attachments and agreements at least fourteen (14) calendar days prior to the date on which | |
| the Franchise Agreement was executed. Franchisee further acknowledges that Franchisee | |
| has read such Franchise Disclosure Document and understands its contents. | |
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| Franchisee acknowledges that it has had ample opportunity to consult with its own | 8. |
| attorneys, accountants and other advisors and that the attorneys for Franchisor have not | |
| advised or represented Franchisee with respect to the Franchise Agreement or the | |
| relationship thereby created. | |
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| Franchisee, together with Franchisee's advisers, has sufficient knowledge and experience | 9. |
| in financial and business matters to make an informed investment decision with respect to | |
| the Franchise granted by the Franchise Agreement. | |
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| Franchisee is aware of the fact that | 10. |
| other present or future franchisees of Franchisor may | |
| operate under different forms of agreement(s), and consequently that Franchisor's | |
| obligations and rights with respect to its various franchisees may differ materially in certain | |
| circumstances. | |
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11.
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, a prospective franchisee acknowledges that they, along with their advisors, possess sufficient knowledge and experience in financial and business matters to make an informed investment decision regarding the franchise. This acknowledgement is part of a broader statement where the franchisee confirms they have conducted an independent investigation of the business, understand the risks involved, and are not relying on any representations or warranties from Crawlspace Medic regarding potential volume, profits, or success, except those explicitly stated in the Franchise Agreement.
This acknowledgement serves to protect Crawlspace Medic from future claims by franchisees who may assert they were not aware of the risks or lacked the business acumen to succeed. By signing this statement, the franchisee confirms they have the necessary expertise or have sought advice from qualified professionals to evaluate the opportunity. It also reinforces that the franchisee's success is largely dependent on their own abilities and efforts as an independent business operator.
The franchisee also acknowledges that they have received the Franchise Disclosure Document (FDD) and the Franchise Agreement at least fourteen calendar days prior to signing the agreement and that they understand the contents of these documents. Furthermore, the franchisee acknowledges that they have had ample opportunity to consult with their own attorneys, accountants, and other advisors, and that the attorneys for Crawlspace Medic have not advised or represented them.
In essence, these acknowledgements emphasize the franchisee's responsibility to conduct thorough due diligence and to understand the terms and risks associated with investing in a Crawlspace Medic franchise. It is a common practice in franchising for franchisors to include such statements to ensure franchisees are making informed decisions and are not solely relying on the franchisor's representations.