Is Dryer Vent Squad a fiduciary or trustee of the Brand Development Fund?

According to the 2024 Dryer Vent Squad FDD, Dryer Vent Squad is not required to segregate the Brand Development Fund from its general operating funds and is not a fiduciary or trustee of the Brand Development Fund.

Dryer Vent Squad may use the Brand Development Fund for various purposes, including market studies, research, advertising, and administrative costs. These costs may include reimbursement for direct administrative and personnel costs associated with advertising and public relations. The company and/or its affiliate-owned Dryer Vent Squad Businesses may contribute to the Brand Development Fund, but are not required to do so.

The Brand Development Fund will maintain unaudited financial records detailing its expenditures and will make available to franchisees an unaudited accounting of how the monies contributed to the Brand Development Fund were spent each year, but no more than once in any 12-month period. The Brand Development Fund will not be used to directly promote an individual Dryer Vent Squad Business or the marketing area in which it is located. Dryer Vent Squad may utilize the Brand Development Fund to develop and test various media and technologies for potential utilization and/or improvement of the operations and marketing of Dryer Vent Squad Businesses.