Does the Crisp & Green Franchise Disclosure Document include an exhibit related to franchisee ownership information?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 23: RECEIPTS]
EXHIBIT D TO THE CRISP & GREEN FRANCHISING LLC FRANCHISE DISCLOSURE DOCUMENT
Example Letter of Intent
Date
Name Address Line 1 Address Line 2 City, State Postal Code
Dear NAME(s):
Thank you for your interest in becoming a franchising partner with Crisp & Green Franchising LLC ("Crisp & Green"). This Letter of Intent sets forth certain terms relating to your application to become a franchisee and our evaluation of your application. Please read this Letter of Intent carefully and sign below to acknowledge that you agree to these business terms and conditions.
Franchisee: NAME OF INDIVIDUAL OR ENTITY FRANCHISEE
Preliminary Designated Area:
PRELIMINARY DESIGNATED AREA. Upon submission to a background check and credit check (the "Background Check"), we will reserve this Preliminary Designated Area exclusively for you and will not offer it to any other franchisee until the earlier of (1) 30 calendar days following confirmation that you have submitted to the Background Check, and (2) our determination, based on the results of the Background Check and in our sole and absolute discretion, that you are unsuitable to run a franchised Restaurant (the earlier date, the "Expiration
Date").
You agree and acknowledge that: (i) you may have access to certain confidential information not generally known to the public relating to the products, sales, or business of Crisp & Green (together with documents, data, or information containing or derived from the foregoing, the "Confidential Information"); (ii) the Confidential Information constitutes a special, valuable, and unique asset of Crisp & Green that derives value in part from not being generally known to the public; (iii) the Confidential Information will remain the exclusive property of Crisp & Green; (iv) you will not use the Confidential Information for any purpose other than the development of one or more CRISP & GREEN® restaurants in connection with one or more Franchise Agreements; and (v) you will not disclose the Confidential Information to any person or permit any person to use, view, or access the Confidential information without the prior written consent of Crisp & Green.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, Exhibit D includes an example of a Letter of Intent. This letter outlines terms related to an applicant becoming a franchisee.
The Letter of Intent includes the franchisee's name, whether an individual or entity, and the preliminary designated area. Upon submission to a background and credit check, Crisp & Green will reserve the designated area exclusively for the applicant for a limited time. This reservation lasts until the earlier of 30 calendar days following confirmation of the background check submission, or Crisp & Green's determination that the applicant is unsuitable based on the background check results.
The letter also states that the applicant will have access to confidential information about Crisp & Green's products, sales, or business. This information is considered a valuable asset of Crisp & Green and must be protected. The applicant agrees not to use the confidential information for any purpose other than developing Crisp & Green restaurants and not to disclose it to anyone without prior written consent from Crisp & Green.