Does Crisp & Green require franchisees to conduct an independent investigation of the business?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
- 1.02 Your Acknowledgments. You have read this Agreement and our Franchise Disclosure Document. You understand the terms of this Agreement and accept them as being reasonably necessary to maintain the uniformity of our high quality standards at all Restaurants in order to protect the goodwill of the Marks and the integrity of the System. You have conducted an independent investigation of the business contemplated by this Agreement and recognize that the restaurant industry is highly competitive, with constantly changing market conditions. You recognize that the nature of restaurants may change over time, that an investment in a Restaurant involves business risks and that the success of the venture is largely dependent on your own business abilities, efforts and financial resources. You have not received or relied on: (a) any guaranty or assurance, express or implied, as to the revenues, profits or success of the business venture contemplated by this Agreement; or (b) any promises that any parent company or Affiliate will back us up financially or otherwise guarantee our performance. You or your Principal Owners shall truthfully fill out the Franchisee Acknowledgment attached hereto as Exhibit F.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, franchisees must acknowledge that they have conducted an independent investigation of the business. Specifically, the franchise agreement states that the franchisee acknowledges having read the agreement and the Franchise Disclosure Document, understanding the terms, and accepting them as reasonably necessary.
Crisp & Green emphasizes that the franchisee recognizes the restaurant industry's competitive nature and constantly changing market conditions. The agreement also states that investing in a Crisp & Green Restaurant involves business risks, and the venture's success largely depends on the franchisee's abilities, efforts, and financial resources.
Furthermore, Crisp & Green states that franchisees must acknowledge that they have not relied on any guarantees or assurances regarding the revenues, profits, or success of the business, nor any promises that a parent company or affiliate will provide financial backing or guarantee performance. The franchisee, along with any principal owners, must also truthfully complete a Franchisee Acknowledgment form.