After applying to become a franchisee, what evidence of intention is required to continue towards execution of one or more Franchise Agreements with Crisp & Green?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
elopment Agreement. After you apply to become a franchisee (for a single Restaurant or for multiple Restaurants under an Area Development Agreement) and after the expiration of the 14-day waiting period following your receipt of this disclosure document, you will be required to sign a letter of intent (the "LOI") to evidence your intention to continue towards execution of one or more Franchise Agreements with us. In connection with the LOI you will be required to submit to a background check which includes a criminal/civil record search and a credit
check. We will not countersign a Franchise Agreement or Area Development Agreement until we have received results of the search and check. If we determine that you are unsuitable to run a franchised Restaurant as a result of background check and credit check results, we reserve the right to not accept you as a franchisee and to terminate any agreements between us and you. An example of the LOI for a single territory is attached as Exhibit D to this disclosure document.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 22–26)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, after applying to become a franchisee, either for a single restaurant or multiple restaurants under an Area Development Agreement, and after the 14-day waiting period following receipt of the disclosure document, you must sign a letter of intent (LOI). This LOI serves as evidence of your intention to proceed towards signing one or more Franchise Agreements with Crisp & Green. An example of the LOI for a single territory is attached as Exhibit D to the disclosure document.
In conjunction with the LOI, Crisp & Green requires you to submit to a background check, which includes a criminal/civil record search and a credit check. Crisp & Green will not finalize a Franchise Agreement or Area Development Agreement until they receive the results of these checks.
It is important to note that Crisp & Green reserves the right to reject you as a franchisee and terminate any agreements if the results of the background and credit checks indicate that you are unsuitable to run a franchised restaurant. This means that even after expressing your intent through the LOI, your application is still contingent upon the successful completion of these checks to the satisfaction of Crisp & Green.