What is the purpose of Exhibit J in the Fitstop FDD?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
The last pages of this Franchise Disclosure Document, Exhibit J, are a detachable document, in duplicate. Please detach, sign, date and return one (1) copy of the Receipt to us, acknowledging you received this Franchise Disclosure Document. Please keep the second copy for your records.
Source: Item 22 — CONTRACTS (FDD pages 49–50)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, Exhibit J serves as a receipt page. This document is included at the end of the FDD in duplicate. The purpose of this receipt is to acknowledge that the prospective franchisee has received the Franchise Disclosure Document.
As a standard practice in franchising, Fitstop requires the franchisee to detach, sign, and date one copy of the receipt and return it to the company. This confirms that the franchisee has been given the opportunity to review the FDD, which contains important information about the franchise system, before making any financial commitment or signing any agreements. The franchisee is instructed to keep the second copy of the receipt for their own records.
This receipt is a crucial element of franchise regulation, ensuring transparency and informed decision-making on the part of the franchisee. By requiring this signed acknowledgment, Fitstop can verify that it has met its legal obligations to provide potential franchisees with the necessary information to evaluate the franchise opportunity.