What understanding does the franchisee acknowledge regarding 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.
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- 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.
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- 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.
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- 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.
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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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- It is recognized by the parties that Franchisor is also (or may become) a manufacturer or distributor of certain products under the Marks licensed herein;
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 acknowledge several key aspects of the business. These acknowledgements, which require the franchisee's initials, indicate that the franchisee has conducted their own independent investigation into the financial, operational, and other aspects of operating a Crawlspace Medic franchise. Franchisees also acknowledge that, except as explicitly stated in the FDD, Crawlspace Medic has not made any representations regarding the financial performance of the franchise. By signing, the franchisee waives any claims against Crawlspace Medic for business failure, emphasizing that the success of the venture depends largely on the franchisee's abilities and efforts.
Furthermore, the franchisee confirms that no claims of success or failure were made before signing the Franchise Agreement and that they understand all the terms and conditions outlined within it. The franchisee agrees that the Franchise Agreement encompasses all oral and written agreements between the parties, superseding any prior contracts. This agreement cannot be changed or terminated orally, ensuring that all understandings are documented in the written agreement. The franchisee also acknowledges that they have no knowledge of any representations made by Crawlspace Medic that contradict the terms of the Franchise Agreement, reinforcing the importance of the written contract as the sole source of obligations and rights.
Additionally, the franchisee acknowledges that Crawlspace Medic disclaims any express or implied warranty or guarantee regarding the potential volume, profits, or success of the business. The franchisee understands that Crawlspace Medic's approval of the business location does not constitute a warranty or endorsement of the location's suitability or any assurance of profitability. The franchisee confirms they received the Franchise Disclosure Document, including a complete copy of the Franchise Agreement and all related attachments, at least fourteen calendar days before executing the Franchise Agreement, and that they have read and understand its contents. This acknowledgement underscores the franchisee's opportunity to review all relevant information before committing to the franchise.
Finally, the franchisee acknowledges they have had ample opportunity to consult with their own attorneys, accountants, and other advisors, and that Crawlspace Medic's attorneys have not advised or represented them. The franchisee affirms they possess sufficient knowledge and experience in financial and business matters to make an informed investment decision. The franchisee is also aware that other present or future Crawlspace Medic franchisees may operate under different agreements, leading to potentially different obligations and rights between Crawlspace Medic and its various franchisees. These acknowledgements collectively demonstrate that the franchisee enters the agreement with a clear understanding of the risks and responsibilities involved, having conducted their own due diligence and sought independent advice.