Does the Fly Fitness Acknowledgement Statement apply to both franchisees and developers?
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, the Acknowledgment Statement applies to both franchisees and developers. The document explicitly states that the acknowledgment of the truthfulness of the statements within the document is an inducement for Fly Fitness to enter into either a Franchise Agreement or a Multi-Unit Development Agreement.
The Acknowledgment Statement includes clauses where both franchisees and developers confirm they have conducted independent investigations into the business, understand the risks, and have had ample opportunity to consult with advisors. Each numbered statement in the Acknowledgment Statement includes a space for the franchisee or developer to initial, confirming their understanding and agreement.
This means that both individual franchisees and those entering into multi-unit development agreements with Fly Fitness must sign this statement, acknowledging their understanding of the business relationship and their responsibilities. This ensures that both parties are aligned in their understanding of the franchise terms and conditions before entering into a binding agreement.