Does Deka Lash require franchisees to acknowledge making a payment in connection with the franchise sale after receiving the Franchise Disclosure Document?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
led, registered or exempt from registration, as of the Effective Date stated below:
| State | Effective Date |
|---|---|
| California | Pending |
| Hawaii | Pending |
| Illinois | Pending |
| Indiana | Pending |
| Maryland | Pending |
| Michigan | January 14, 2024 |
| Minnesota | Pending |
| New York | Pending |
| North Dakota | Pending |
| Rhode Island | Pending |
| South Dakota | Pending |
| Virginia | Pending |
| Washington | Pending |
| Wisconsin | Pending |
Other states may require registration, filing, or exemption of a franchise under other laws, such as those that regulate the offer and sale of business opportunities or seller-assisted marketing plans.
EXHIBIT N RECEIPT
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If DL Franchising, LLC d/b/a Deka Lash offers you a franchise, we must provide this disclosure document to you 14 calendar days before you sign a binding agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale.
lowa requires that we give you this Disclosure Document at the earlier of the first personal meeting or 14 calendar days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale.
Michigan requires that we give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
New York requires that we give you this Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
If we do not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and State law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the state agency listed on Exhibit D.
The franchisor is DL Franchising, LLC located at 20 South Main Street, #248, Bountiful, UT 84010. Its telephone number is (412) 977-0220.
Issuance Date: March 5, 2024
The Franchise Sellers for this offering are:
| Shant Assarian; 20 South Main Street, #248, Bountiful, UT 84010;
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to the 2024 Deka Lash Franchise Disclosure Document, Deka Lash requires franchisees to acknowledge receipt of the Franchise Disclosure Document (FDD). The franchisee must sign and date the receipt included as Exhibit N, confirming they received the FDD. This receipt includes a list of all exhibits included with the disclosure document, such as the Franchise Agreement, state addenda, lists of franchisees, financial statements, and other important documents.
Furthermore, Deka Lash must provide the disclosure document to the prospective franchisee at least 14 calendar days before the franchisee signs a binding agreement or makes a payment in connection with the franchise sale. Certain states, like Iowa, Michigan, and New York, have specific requirements regarding the timing of the FDD delivery. Iowa requires the document at the earlier of the first personal meeting or 14 calendar days before signing or payment. Michigan mandates delivery at least 10 business days before signing any agreement or payment, whichever comes first. New York requires the FDD at the earlier of the first personal meeting or 10 business days before the agreement or payment.
This acknowledgement serves as a confirmation that Deka Lash has met its legal obligations regarding franchise disclosure. It also protects both the franchisor and franchisee by documenting the franchisee's receipt of critical information needed to make an informed investment decision. The receipt includes space for the names, signatures, and titles of the prospective franchisee, ensuring a clear record of who received the document and when. By signing the receipt, the franchisee acknowledges they have been given the opportunity to review the FDD before committing to the franchise.