What exhibit contains the receipt page(s) for Fitstop?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
| Exhibit B. Table of Contents for Manual(s) | |||
|---|---|---|---|
| Exhibit C. | Financial Statements | ||
| Exhibit D. | List of Franchisees | ||
| Exhibit E. | Lists of Agents for Service of Process in Various States | ||
| Exhibit F. | State Administrators | ||
| Exhibit G. | General Release | ||
| Exhibit H. | State Addendum to the Disclosure Document | ||
| Exhibit I. | State Effective Dates Page | ||
| Exhibit J. | Receipts of Franchise Disclosure Document | ||
| Dated: | Dated: | ||
| Printed Name | Printed Name | ||
| Signed, individually and as an officer of [ ] (a corporation) [ ] (a partnership) | Signed, individually and as an officer of [ ] (a corporation) [ ] (a partnership) | ||
| [ ] (a Limited Liability Company) | [ ] (a Limited Liability Company) |
Source: Item 22 — CONTRACTS (FDD pages 49–50)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the receipt for the Franchise Disclosure Document is located in Exhibit J. This exhibit is a detachable document provided in duplicate. The FDD instructs the prospective franchisee to detach, sign, and date one copy of the receipt and return it to Fitstop, acknowledging receipt of the FDD, while keeping the second copy for their records.
This receipt serves as a formal confirmation that the prospective franchisee has received the FDD, which is a critical step in the franchise sales process. Franchise regulations typically require franchisors to provide the FDD to potential franchisees at least 14 days before any binding agreement is signed or any fees are paid. This waiting period allows the franchisee to thoroughly review the document and seek professional advice.
By signing and returning the receipt, the franchisee acknowledges they have been given the opportunity to review the FDD. Fitstop, in turn, can demonstrate compliance with disclosure requirements. This process helps protect both the franchisor and the franchisee by ensuring transparency and informed decision-making. The inclusion of a receipt page as Exhibit J emphasizes the importance of this step in the franchise process.