What is the status of the Exit Franchise Disclosure Document in Minnesota?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
The following states have franchise laws that require that the Franchise Disclosure Document be registered or filed with the state, or be exempt from registration: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. This document is effective and may be used in the following states, where the document is filed, registered or exempt from registration, as of the Effective Date stated below:
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Minnesota is one of the states that has franchise laws requiring the Franchise Disclosure Document to be registered or filed with the state, or be exempt from registration. The FDD states that the document is effective and may be used in Minnesota as of the effective date stated in the document.
Exit Realty Upper Midwest, located in Lakeville, Minnesota, is registered as a sub-franchisor of Exit Realty Corp. International and has purchased the rights to sell Exit Realty Franchises and operate in Minnesota, among other states. The sub-franchisor agreements can be renewed for two additional ten-year terms, with the current agreements expiring in 2033.
Prospective franchisees in Minnesota should verify the specific effective date of the FDD with Exit to ensure it is current at the time of signing any agreements or making payments. They should also review Exhibit B of the FDD, as referenced in Item 23, to identify the relevant state agency in Minnesota for reporting any potential violations of franchise law.