In the Crisp & Green Franchisee Acknowledgment, what information must be provided by the individuals signing the document?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
xpense | 308,797 | | 296,581 | | | 3,000 | | | | Advertising Expense | | 434,782 | | | | - | | - | | Legal Fees | | 35,051 | | | | - | | - | | Bank Fees | Total Operating Expenses | 1,824,138 | 8 | 796,581 | | - 503,143 | 143 | | | NONOPERATING INCOME | | | | | | | | | | Other Income | 104,126 | | 182,877 | | | | - | | | NET INCOME | | $ 4,444,324 | | | $ 3,881,136 | | | $ 1,737,797 |CRISP & GREEN® 2024-25 Franchise Agreement F-3 This document was downloaded from franchimp.com. All the information on this website is published in good faith and for general information purpose only. FranChimp.com does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information you find on this website (FranChimp.com), is strictly at your own risk. We will not be liable for any losses and/or damages in connection with the use of our website.
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NOTE: IF THE FRANCHISEE IS AN ENTITY, AN OFFICER AND EACH PRINCIPAL OWNER MUST EXECUTE THIS FRANCHISEE ACKNOWLEDGMENT.
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ADDENDUM TO THE CRISP & GREEN FRANCHISE AGREEMENT FOR THE STATE OF ILLINOIS
This Addendum pertains to franchises sold in the State of Illinois and is for the purpose of complying with Illinois statutes and regulations. This Addendum shall be of no force and effect unless the jurisdictional requirements of the Illinois Franchise laws and any regulations thereunder are met independently without reference to this Addendum.
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- BACKGROUND. Franchisor and Franchisee are parties to that certain Franchise Agreement dated _______ (the "Agreement"), that has been entered into concurrently with the entering of this Addendum. This Addendum is annexed to and forms part of the Agreement, and the defined terms set forth in the Agreement are used in this Addendum with the same meanings ascribed to them in the body of the Agreement. This Addendum is being executed because the Franchised Restaurant to be operated by Franchisee pursuant to the Agreement will be located in the State of Minnesota and/or because Franchisee is a resident of the State of Minnesota.
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- AMENDMENTS.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, the Franchisee Acknowledgment requires specific information from those signing the document. If the franchisee is an entity, the name of the entity, a signature, printed name, and title must be provided. If the franchisee is an individual, a signature and printed name are required. Additionally, the document includes space for a date to be entered.
It's important to note that this acknowledgment is not required for franchisees in states with franchise registration/disclosure laws, including California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin. Furthermore, the acknowledgment should not be signed if the franchise is to be operated in, or the individual is a resident of, Maryland.
For potential Crisp & Green franchisees, this means carefully reviewing the acknowledgment form to understand what information is needed based on whether they are signing as an individual or on behalf of an entity. Franchisees should also verify whether their state requires the acknowledgment, as it is not universally applicable. This step ensures compliance with Crisp & Green's requirements and avoids potential issues related to the franchise agreement.