Does either party rely on representations from the other when entering into the Extreme Art Studio Module Amendment?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
e(s) will require Franchisee to incur increased initial and ongoing expenses in operating the Extreme Art Business including but not limited to inventory, equipment, supplies, materials, products, staff training and signage, some of which must only be purchased from Franchisor's approved vendors. Franchisee acknowledges that the expenses will result in a material increase to the cost to operate the Extreme Art Business and that it has had an opportunity to investigate these expenses prior to entering into this Module Amendment and is solely responsible for such expenses.
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- NO REPRESENTATIONS BY FRANCHISOR. Franchisor makes no representations, warranties, or guaranties, express or implied, relating to the viability of the Module(s), including but not limited to the potential revenues, income, profits, volume or success of the Module(s) contemplated by this Module Amendment.
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- ENTIRE AGREEMENT. Each party has carefully read this Module Amendment and this Module Amendment expresses the final and entire agreement between the parties as to the Module(s). There are no oral or other agreements or understandings between the parties affecting this Module Amendment.
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- REAFFIRMATION.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, Extreme Art Studio makes no representations, warranties, or guarantees regarding the viability of any additional service modules a franchisee may add to their Extreme Art Business. This includes no guarantees related to potential revenues, income, profits, volume, or overall success of the additional modules.
Extreme Art Studio states that the franchisee acknowledges that adding modules will require increased initial and ongoing expenses. These expenses include inventory, equipment, supplies, materials, products, staff training, and signage, some of which must be purchased from Extreme Art Studio's approved vendors. The franchisee is solely responsible for these expenses and acknowledges they will result in a material increase in the cost to operate the Extreme Art Business. The franchisee also confirms they have had the opportunity to investigate these expenses before entering into the Module Amendment.
Furthermore, the document states that each party has carefully read the Module Amendment, and it expresses the final and entire agreement between the parties regarding the modules. It also specifies that there are no other oral or other agreements or understandings between the parties affecting the Module Amendment. This indicates that the written agreement supersedes any prior discussions or understandings, and neither party is relying on any external representations not included in the amendment itself.