According to the Fly Fitness franchise agreement, what is Exhibit G?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| FRANCHISOR: |
|---|
| FLY FITNESS FRANCHISE, L.L.C. |
| By: |
| , |
| (Print Name, Title) |
| FRANCHISEE (Entity): |
| By: |
| , |
| (Print Name, Title) |
| FRANCHISEE (Principal): |
| (Print Name) |
| FRANCHISEE (Principal): |
| (Print Name) |
EXHIBIT G
FLY FITNESS ACKNOWLEDGEMENT STATEMENT
Acknowledgement of the truthfulness of the statements below are an inducement for the Franchisor to enter into a Franchise Agreement (or Multi-Unit Development Agreement). Notify Franchisor immediately, prior to acknowledgment, if any statement below is incomplete or incorrect.
No statement, questionnaire, or acknowledgment signed or agreed to by a franchisee (or developer) in connection with the commencement of the franchise relationship shall have the effect of (i) waiving any claims under any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, franchise seller, or other person acting on behalf of the franchisor. This provision supersedes any other term of any document executed in connection with the franchise.
- Franchisee (or Developer) has conducted an independent investigation of all aspects relating to the financial, operational, and other aspects of the business of operating the Franchised Business.
Source: Item 22 — CONTRACTS (FDD pages 44–45)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, Exhibit G is the Fly Fitness Acknowledgement Statement. This document requires franchisees to acknowledge the truthfulness of certain statements, which serves as an inducement for Fly Fitness to enter into a Franchise Agreement or Multi-Unit Development Agreement. Franchisees must notify Fly Fitness immediately if any statement is incomplete or incorrect before signing the acknowledgement.
The Acknowledgement Statement also includes a clause protecting franchisees, stating that no signed statement can waive claims under state franchise law, including fraud in the inducement, or disclaim reliance on statements made by the franchisor. This provision supersedes any other conflicting terms in any document related to the franchise agreement.
Furthermore, the Acknowledgement Statement requires franchisees to confirm they have conducted an independent investigation into the financial, operational, and other aspects of operating a Fly Fitness franchised business. Franchisees also acknowledge that, unless explicitly stated in the Disclosure Document, no performance representations (financial or otherwise) have been made by Fly Fitness, and they waive any claims against Fly Fitness for business failure, emphasizing the franchisee's responsibility for their business's success.