What claims does the Franchisee and Franchisee's Principal(s) knowingly waive regarding the Fly Fitness General Release?

According to Fly Fitness's 2024 Franchise Disclosure Document, the franchisee and their principals knowingly waive specific claims related to the General Release. Specifically, they waive any claim that the General Release was induced by misrepresentation or nondisclosure. They also waive any right to rescind or avoid the General Release based on existing facts, whether those facts are known or unknown at the time of signing. This means the franchisee is agreeing that they are not relying on any promises or representations not explicitly included in the General Release itself.

This waiver is significant because it limits the franchisee's ability to later argue that they were misled into signing the release or that they were unaware of certain facts that would have changed their decision. By signing the General Release, the franchisee acknowledges they have not been offered any inducements outside of what is written in the release and that they are entering into the agreement freely and with full knowledge.

This type of waiver is common in franchise agreements, as it aims to provide legal protection for Fly Fitness against future claims related to the release. However, it also places a greater burden on the franchisee to carefully review and understand the terms of the General Release before signing, as they will be bound by its terms even if they later discover new information.

Prospective Fly Fitness franchisees should seek legal counsel to fully understand the implications of this waiver and the General Release before signing the Franchise Agreement. Understanding what rights are being waived is crucial for making an informed decision about investing in a Fly Fitness franchise.