As of this Exit Franchise Disclosure Document, which states have pending effective dates?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
| State | Effective Date |
|---|---|
| Illinois | April 30, 2025 |
| Michigan | March 15, 2025 |
| Minnesota | Pending |
| North Dakota | Pending |
| South Dakota | August 16, 2025 |
| Wisconsin | September 2, 2025 |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Minnesota and North Dakota have pending effective dates as of the document's issuance. This means that while Exit has filed or registered its franchise offering in these states, or is operating under an exemption, the final approval for offering franchises may still be in process. The document is effective and may be used in Illinois, Michigan, South Dakota and Wisconsin.
For a prospective Exit franchisee, this distinction is important because it affects when they can legally be offered and sold a franchise in those states. While the effective date is pending, Exit might be limited in its ability to actively market or sell franchises in Minnesota and North Dakota. Franchisees interested in those states should confirm the current status with Exit to understand the timeline for franchise availability.
It's common for franchise systems to have varying effective dates across different states due to differing regulatory requirements and processing times. The FDD provides this information to ensure transparency and compliance with state franchise laws. Franchisees should always check the effective dates for their specific state to ensure they are entering into an agreement legally.