What acknowledgement is required in the Exit FDD receipt?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
chise Agreement (Exhibit A-2), Sales Representative Agreement (Exhibit A-3) and Guaranty (Schedule 4 of the Franchise Agreement).
ITEM 23 RECEIPT
THE RECEIPT IS A SEPARATE DOCUMENT ATTACHED AS EXHIBIT G (2 COPIES) OF THIS DISCLOSURE DOCUMENT ACKNOWLEDGING RECEIPT OF THE DISCLOSURE DOCUMENT BY YOU.
EXHIBIT A-1 REQUEST FOR CONSIDERATION
EXIT REALTY UPPER MIDWEST
REQUEST FOR CONSIDERATION
EXIT REALTY UPPER MIDWEST
20765 Holylake Ave, Lakeville, MN 55044
To determine mutual compatibility and financial responsibility, we ask you to fill out this form for careful evaluation by our management team. We require a copy of a government issued photo ID such as your driver's license. The information supplied by you wi
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the Item 23 Receipt is a separate document attached as Exhibit G, with two copies, acknowledging your receipt of the disclosure document. This receipt serves as formal confirmation that the prospective franchisee has received the FDD, which is a critical step in the franchise sales process.
In addition to the standard FDD receipt, Exit Realty Upper Midwest requires potential franchisees to complete a "Request for Consideration" form. This form is used to evaluate the compatibility and financial responsibility of the applicant. As part of this request, Exit requires a copy of a government-issued photo ID, such as a driver's license. The document states that all information supplied will be held in the strictest confidence and that the submission of the form does not constitute an agreement by either party, clarifying that it is purely for informational purposes.
It is important for prospective Exit franchisees to carefully review Exhibit G and understand the implications of signing the receipt. Signing the receipt acknowledges that they have received the FDD and have had the opportunity to review it before making any financial commitment to the franchise. The "Request for Consideration" form is specific to Exit Realty Upper Midwest, so requirements may vary for different subfranchisors.