Does Item 19 contain any financial performance representations for Extreme Art Studio?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Extreme Art Studio Franchising, LLC does not make any financial performance representations. We also do not authorize our employees or representatives to make any such representations either orally or in writing. If you are purchasing an existing outlet, however, we may provide you with the actual records of that outlet. If you receive any other financial performance information or projections of your future income, you should report it to the franchisor's management by contacting Lara Olson at Extreme Art
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 46–47)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio FDD, Item 19 does not include any financial performance representations. This means that Extreme Art Studio does not provide any data regarding the actual or potential financial performance of its franchise or franchisor-owned outlets in its Franchise Disclosure Document.
The FDD explicitly states that Extreme Art Studio Franchising, LLC does not make any financial performance representations, either directly or through its employees or representatives. However, if a prospective franchisee is purchasing an existing outlet, Extreme Art Studio may provide the actual records of that specific outlet.
The document advises that if a potential franchisee receives any financial performance information or projections of future income from other sources, they should report it to Extreme Art Studio's management, the Federal Trade Commission, and the appropriate state regulatory agencies. This is a standard disclosure, as franchisees should be wary of any unofficial financial projections and verify all information with the franchisor directly.