Where in the Exit Franchise Agreement can I find the schedule detailing the 'EXIT Formula'?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- (F) EXIT Formula: "EXIT Formula" means the system of fees and dues described in Schedule 2 attached to this Agreement.
19. THE EXIT FORMULA
See Schedule 2 attached to and incorporated in this Agreement.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the EXIT Formula, which outlines the system of fees and dues, is detailed in Schedule 2 attached to the Franchise Agreement. Specifically, Item 19 of the agreement refers to Schedule 2 as the location of the EXIT Formula. This schedule is incorporated into the agreement, making it a binding part of the franchise terms.
Understanding the EXIT Formula is crucial for prospective franchisees as it directly impacts their financial obligations to Exit. The schedule outlines the various fees and dues that franchisees must pay, which are referred to as Continuing Fees in the agreement. These fees are essential for the ongoing operation and maintenance of the Exit franchise system.
Schedule 2, titled 'EXIT Formula,' has a U.S. Revision effective as of March 23, 2025. It identifies Exit Realty Corp. International as the Franchisor, clarifying that Exit provides strategic oversight and support for its subfranchises and franchises. The schedule also defines 'Sales Representatives' and 'EXIT Associates,' explaining the requirements and effective dates for each, which are important for determining remuneration packages and the ability to use Exit's proprietary marks.