What must a Crawlspace Medic franchisee do to request a copy of the current Disclosure Document for renewal?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
- 5.4 Conditions to Exercise Developer's Rights. All of the following conditions must be satisfied or waived, in Franchisor's sole discretion, before Franchisor grants Developer the right to develop an additional Crawlspace Medic outlet in accordance with Section 4.1 hereof and pursuant to a Franchise Agreement:
- 5.4.1 Developer shall (i) request Franchisor's then-current Franchise Disclosure Document, (ii) submit to Franchisor all information and other documents requested by Franchisor prior to and as a basis for the issuance of Franchise Agreements in the System, (iii) submit to Franchisor all financial statements reasonably requested by Franchisor, and (iv) satisfy Franchisor's then-current financial criteria for multiunit franchisees.
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, a developer who wants to develop an additional Crawlspace Medic outlet must request the then-current Franchise Disclosure Document from the franchisor.
In addition to requesting the Franchise Disclosure Document, the developer must also submit all information and documents requested by Crawlspace Medic, submit all financial statements reasonably requested by Crawlspace Medic, and satisfy Crawlspace Medic's then-current financial criteria for multiunit franchisees.
These conditions must be satisfied or waived, in Crawlspace Medic's sole discretion, before Crawlspace Medic grants the developer the right to develop an additional Crawlspace Medic outlet.