Where is the Exit Franchise Agreement attached in this Disclosure Document?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
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The Franchise described in this Disclosure Document is a license, as a "Franchisee" pursuant to a Franchise Agreement, to a specific geographic territory for the purpose of owning and operating a real estate office using the EXIT System (as defined below) for a specific time period pursuant to the terms of a Franchise Agreement in the form of Exhibit A-2 attached to this Disclosure Document.
To simplify the language in this Disclosure Document, "EXIT" means EXIT Realty Corp. International, the Franchisor. "EXIT Realty Upper Midwest," "we," "us" and similar words mean Upper Midwest Realty, Inc., a Minnesota Corporation, doing business as EXIT Realty Upper Midwest, the Subfranchisor. "You" means the individual or entity that purchases the Franchise. If you form a corporation, partnership or other organization, the reference to "You" may include the organization's owners.
Source: Item 1 — THE FRANCHISOR AND SUBFRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 6–8)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the Exit Franchise Agreement is attached as Exhibit A-2. Prospective franchisees can find the complete agreement, which outlines the obligations of both the franchisee and Exit Realty Upper Midwest, in this exhibit.
The Franchise Agreement is a crucial document for potential Exit franchisees as it details the contractual relationship between the franchisee and Exit Realty Upper Midwest. It specifies the terms and conditions under which the franchise will operate, including the franchisee's responsibilities and the support and services provided by Exit Realty Upper Midwest. The agreement also contains the Exit Formula, which outlines the fee structure.
Careful review of Exhibit A-2 is essential for anyone considering investing in an Exit franchise. Understanding the terms of the Franchise Agreement will help potential franchisees make informed decisions and avoid potential disputes in the future. Franchisees should pay close attention to sections detailing fees, termination conditions, and renewal options.