In the context of the Crown Gold Exchange franchise, who is referred to as 'you' in the disclosure document?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
In this disclosure document, "we", "us," or "our" refers to Goldmember, LLC. "You" means the person to whom we grant a franchise. If you are a corporation, limited liability company, or other entity, each owner of the franchise entity must sign our Guaranty and Non-Compete Agreement, which means that all of the franchise agreement's provisions also will apply to your owners.
Source: Item 1 — THE FRANCHISOR AND ANY PARENTS, PREDECESSORS, AND AFFILIATES (FDD pages 7–8)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, when the terms "you", "us," or "our" are used, they have specific meanings within the context of the document. "We", "us," or "our" refers to Goldmember, LLC, which is the franchisor for Crown Gold Exchange.
Conversely, "you" refers to the individual or entity to whom Goldmember, LLC is granting the franchise. This means that any obligations, rights, or conditions described using the term "you" directly apply to the franchisee.
The FDD also clarifies that if the franchisee is a corporation, limited liability company, or another type of entity, each owner of that entity must sign a Guaranty and Non-Compete Agreement. This extends the applicability of the franchise agreement's provisions to all owners of the franchise entity, ensuring they are also bound by its terms.