Does the Fly Fitness franchise agreement include Acknowledgement Statements?
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)
Yes, according to Fly Fitness's 2024 Franchise Disclosure Document, the franchise agreement includes an Acknowledgment Statement. Exhibit G of the FDD is the Fly Fitness Acknowledgement Statement. The document states that the franchisee's acknowledgment of the statements is an inducement for Fly Fitness to enter into a Franchise Agreement or Multi-Unit Development Agreement. The franchisee must notify Fly Fitness immediately if any statement is incomplete or incorrect before signing.
The Acknowledgment Statement also specifies that no statement signed by a franchisee can waive claims under state franchise law, including fraud, or disclaim reliance on franchisor statements. This provision supersedes any other term in any document related to the franchise. The franchisee acknowledges conducting an independent investigation of the business and waives claims against Fly Fitness for any business failure, except for representations made in the Franchise Disclosure Document.
Furthermore, the franchisee acknowledges that the business involves risks and depends on their abilities and efforts. The franchisee must initial each numbered statement in the Acknowledgment Statement to confirm their understanding and agreement. This statement is designed to ensure that franchisees understand the risks and responsibilities associated with operating a Fly Fitness franchise and that they have conducted their own due diligence before investing.