Is Exit obligated to provide revised and updated versions of the MEMO computer software to franchisees?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
id to us. See Franchise Agreement, Section 3.1(B).
3. Obligations After Opening.
During the operation of your Franchise, the following obligations will be met by EXIT Realty Upper Midwest and EXIT:
- (1) Train you as provided in Training Manual Vol.
Source: Item 11 — FRANCHISOR'S AND SUBFRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 19–24)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Exit is obligated to periodically provide franchisees with revised and updated versions of the MEMO computer software. This obligation is outlined in Item 11, which discusses the franchisor's assistance, advertising, computer systems, and training. The Franchise Agreement Sections 9 and 13 also refer to this obligation.
This means that as an Exit franchisee, you can expect to receive updates to the MEMO software, which is used for managing various aspects of your franchise operations, including tracking transaction fees, regional development fees, company development fees, franchise contract details, and sales representative information. The MEMO system also calculates sales commissions and tracks listings.
However, Exit may require franchisees to upgrade their hardware and software to maintain compatibility with MEMO. This could involve costs for new computers or operating systems. While Exit is committed to updating the MEMO software, franchisees should be prepared for potential expenses related to maintaining the necessary hardware and software to run the system effectively.