Regarding the Exit franchise agreement, what is the franchisee required to certify about the information contained in Schedule 1?

According to Exit's 2025 Franchise Disclosure Document, the franchisee must certify the accuracy of the information contained in Schedule 1 as of the date of the franchise agreement. Furthermore, the franchisee is obligated to promptly inform the subfranchisor of any changes to this information throughout the term of the agreement. Schedule 1 is titled "The Exit Formula."

This requirement ensures that Exit maintains accurate and up-to-date records regarding its franchisees. The information contained in Schedule 1 is considered important enough that its accuracy is specifically certified by the franchisee. This likely includes key details about the franchisee's business operations, ownership structure, and contact information.

For a prospective Exit franchisee, this means carefully reviewing Schedule 1 before signing the franchise agreement to ensure all details are correct. It also means establishing a system for tracking any changes to the information in Schedule 1 and promptly reporting those changes to the subfranchisor as they occur. Failure to maintain accurate information could potentially lead to breaches of the franchise agreement.